In the short space of time that has lapsed since the collapse of OPEC+, the grouping of 14 Saudi-led oil producers within OPEC and 10 Russian-led non-OPEC exporters, oil futures have slumped to historical lows with Brent struggling to find a floor at $25 per barrel levels. On March 5 – the eve of OPEC+ talks when OPEC had proposed a deepening of their existing cuts by 1.5 million barrels per day (bpd) – Brent closed at $49.99 per barrel. For much of the next morning after having played Russian roulette with OPEC, Moscow's chief envoy and Oil Minister Alexander Novak announced a breakdown talks and declared all ... (full story)