Something like this last happened in 1991, almost 30 years ago: seconds after the market opened , the oil price fell by a whopping 31 percent . Prime Minister Mohammed bin Salman, Prime Minister of Saudi Arabia, now apparently wants to increase his oil production in resistance to Vladimir Putin. Its own state-owned oil company Saudi Aramco said it wanted to reduce the official price for all customers and all types. The fact that a collapse in demand caused by the corona virus and trade barriers coincides with an expansion of the supply turns the laws of economy upside down. The oil crash therefore immediately caused stock prices in Asia to tumble - reality is dancing on a very thin rope these days.
Source
ZMP/Handelsblatt
