Aramco equity pummeled by oil's collapse
Stock traders punish Saudi Aramco after the Kingdom boosted its output quota and kick-started a price war against Russia.
BY RITZAU FINANS & ENERGYWATCH
Global equity markets have taken a major beating Monday morning following crude's deep price dive, resulting from failed OPEC+ talks in Vienna this Saturday, when Russia's plan to pressure US shale extractors by maintaining already agreed-upon output cuts provoked Saudi Arabia to initiate a price war by increasing its oil output quota.
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