6 days ago But the oil-price war that has broken out between them is head-on and has swiftly escalated. Russia said it could raise output, too, adding up to 500,000 b/d to its 11.2m b/d. the world's biggest oil importer, put downward pressure on prices. It seems in no hurry to go back to negotiations with OPEC. 9 Mar 2020 Oil prices tumbled after Saudi Arabia said it would raise production and offer 1991 Gulf war after the Saudi move, which threatens to swamp the oil market later Brent trimmed losses slightly to be down 20 per cent at $36 a barrel, The Crude Oil Prices Charts. Latest News on Oil, Energy and Petroleum Prices. Articles, Analysis and Market Intelligence on the Oil, Gas, Petroleum and Energy