# Russia–Saudi oil price war begins

> OPEC+ talks collapse; Saudi Arabia slashes prices and lifts output, crashing crude and ethanol margins.

- Date: 2020-03-08 · published 2020-03-08T12:00:00.000Z
- Category: geopolitics · region Global
- Page: https://feedsoft.ai/events/8-russia-saudi-oil-price-war-begins
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-03-09 | 5 | -33.6% | -9.6 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase created an expected supply glut, driving WTI's historic plunge into the March 9 window close. |
| WTI | 2020-03-09 | 1 | -24.5% | -12.3 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase signaled a sudden supply glut, directly triggering the record one-day WTI crash on March 9. |
| WTI | 2020-03-09 | 5 | -33.6% | -9.0 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase created an expected supply glut, driving WTI's historic plunge into the March 9 window close. |
| WTI | 2020-03-09 | 1 | -24.5% | -12.2 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase signaled a sudden supply glut, directly triggering the record one-day WTI crash on March 9. |
| DIESEL | 2020-03-09 | 1 | -15.9% | -8.2 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase crashed crude prices on 2020-03-09, directly lowering the feedstock cost and price of ULSD amid a looming supply glut. |
| DIESEL | 2020-03-09 | 1 | -16.0% | -8.4 | The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase crashed crude prices on 2020-03-09, directly lowering the feedstock cost and price of ULSD amid a looming supply glut. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-08 | [Oil price war between Saudi, Russia after failed OPEC deal](https://feedsoft.ai/events/54278-oil-price-war-between-saudi-russia-after-failed-opec-deal.md) | -23.0% | -31.2% |
| WTI | 2020-04-02 | [Oil rallies as Trump talks up truce hopes for Saudi-Russia price war](https://feedsoft.ai/events/5490-oil-rallies-as-trump-talks-up-truce-hopes-for-saudi-russia-price-war.md) | +23.3% | -2.7% |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |
| WTI | 2020-04-09 | [Saudi Arabia and Russia end their oil-price war with output cut agreement](https://feedsoft.ai/events/53548-saudi-arabia-and-russia-end-their-oil-price-war-with-output-cut-agreement.md) | -20.7% | -1.1% |
| WTI | 2019-01-01 | [Oil Jumps Most Since June on Saudi-Russian Pact, Trade War Truce](https://feedsoft.ai/events/61727-oil-jumps-most-since-june-on-saudi-russian-pact-trade-war-truce.md) | +9.7% | +17.5% |
| DIESEL | 2022-03-02 | [Oil price rises again as buyers shun Russian crude](https://feedsoft.ai/events/9459-oil-price-rises-again-as-buyers-shun-russian-crude.md) | +39.8% | +17.3% |
| DIESEL | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +10.5% | +4.1% |
| DIESEL | 2020-04-02 | [Coronavirus: Oil prices surge on hopes of a price war truce](https://feedsoft.ai/events/5485-coronavirus-oil-prices-surge-on-hopes-of-a-price-war-truce.md) | +8.2% | -20.9% |

## Sources

- Wikipedia: https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.