Oil prices recover after biggest crash in 2 decades

Crude futures gained in at the start of the trading session early on Tuesday after dipping over 30% yesterday in the biggest collapse in nearly two decades.

The crash followed Saudi Arabia’s decision to slash oil prices and boost its production by over 10 million barrels per day in April, after failing to reach a deal about price cuts with Russia at the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries meeting.

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