Dow futures tumble as Saudi-Russia oil price war adds to coronavirus stress

. On Thursday, OPEC recommended additional production cuts of 1.5 million barrels per day starting in April but OPEC ally Russia rejected the additional cuts. With no deal in place when the current one expires at the end of the month, producers could soon pump as much oil as they want.

Investors have already been on edge about the coronavirus outbreak that caused major stock averages to tumble into correction territory. As of Sunday, global cases of the infectionswith at least 3,801 deaths around the world. The situation is also worsening in the U.S. with New York, California and Oregon all declaring a state of emergency.

F*ck oil.

Oil price wars doesn’t, but fakenews does

Oil was falling anyways, this is just excuse to get out of that position.

Yay for cheap oil! This will help the world survive this crisis, not going with inefficient trash green energy LOL

How's your 401k's now Donald

This could be a real blood bath in the markets today(Dow). This is the time when a strong leader with a steady hand at the helm is needed.. oh yeah.. we don't have one in the US.🤦‍♂️

This was inevitable

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Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With Massive DiscountsSaudi Arabia has announced a stunning discount in oil prices — of $6 to $8 per barrel — to its customers in Asia, the U.S. and Europe. Paired with its ability to rapidly increase production, those price cuts will push the price of oil down for everyone. This sucks Wow. The price of energy is plummeting. I guess that means lower prices for American consumers. Oh, who am I kidding? The corrupt economic system has almost nothing to do with supply and demand or 'the markets.' discount from $6 to $8?...discount?
Source: NPR - 🏆 96. / 63 Read more »

Column: As Saudi Arabia blows up crude oil market, stand by for fallout - RussellSaudi Arabia has detonated a metaphorical nuclear weapon in the global oil marke... What, not another social justice story this move by the Saudi's will cripple the Russian economy. there's no way they're doing this on their own and no doubt it's being orchestrated by Trump. He seems to have an insatiable desire to inflict pain on Russia. US Energy com. Victims
Source: Reuters - 🏆 2. / 97 Read more »