Oil extends losses, falling below $30 a barrel
Saudi Arabia is expected to keep oil output high in May, with Aramco saying it is ‘very comfortable’ with $30 a barrel
17 March 2020 - 12:53
Singapore/London — Oil prices fell below $30 a barrel on Tuesday, extending losses after shedding a 10th of their value on Monday, as the coronavirus pandemic hit demand, while Saudi Arabia raised output to a record as it battles with Russia for market share.
Brent crude was 0.5% lower at $29.91 a barrel at 9.46am GMT having earlier risen as high as $31.25 a barrel. US West Texas Intermediate (WTI) crude reversed most of its earlier 4.7% gains to stand at $29.04 a barrel...
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