Oil slumps below $30 as coronavirus spreads, OPEC rancor remains elevated

Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.

Top global oil producers Saudi Arabia and Russia, having failed to agree on a plan to curb supply as the fall in global economic activity destroys oil demand, and have turned on each other to start a price war. Saudi Aramco reiterated on Monday its plans to boost output to record levels to take a bigger share.....

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