Brent crude futures could plunge to “single-digit lows” if major oil producers fail to reach a deal to cut output at a time when demand has collapsed due to the coronavirus pandemic, Fitch Solutions said in a Friday report. The Organization of the Petroleum Exporting Countries and its allies are expected to meet on Thursday — a delay from Monday — in an attempt to agree on production cuts. A previous deal by the group — commonly known as OPEC+ — expired in March after Saudi Arabia and Russia failed to reach an agreement. The fallout sent oil prices plummeting to multi-year lows. The expiry of the deal means that ... (full story)