(Bloomberg Opinion) — In a war of attrition, the winner isn’t the force with overwhelming power, but the one with the greatest capacity to sustain damage. The current price war in the oil market is little different. Brent crude fell the most since the 1991 Gulf War Monday, dropping 31% in a matter of seconds, after Friday’s OPEC+ meeting broke up in disarray and Saudi Arabia slashed its crude prices and promised a surge in output.That decision to open the spigots may seem contradictory from a country that just days ago was trying to coax Russia to join a 1.5 …read more
Source:: Yahoo Finance
