Oil plunges to lowest since 2017 after Russia rejects steep OPEC cut1 min read . Updated: 06 Mar 2020, 09:11 PM IST
- OPEC aims to cut output by extra 1.5 mbpd to end-2020; Russia rejects OPEC proposal
- Brent North Sea crude tumbled to $46.31 per barrel and WTI to $42.49, down around 7.4% compared with Thursday's closing levels
New York: Oil prices tanked more than 7% on Friday to their lowest levels since mid-2017 after Reuters reported that Russia balked at OPEC's proposed steep production cuts to stabilize prices.
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