18:34 GMT04 December 2020
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    Oil prices had their biggest one-day drop in three decades after global oil producers failed to agree on deeper production cuts to offset weak demand caused by the coronavirus.

    The Moscow Stock Exchange opens as the Russian rouble has sunk to its lowest level in more than four years after oil prices crashed earlier in the week.

    Oil prices collapsed after Russia and the Saudi-led Organisation of the Petroleum Exporting Countries (OPEC), failed to agree on deeper production cuts to mitigate a decline in demand brought about by the coronavirus crisis.

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    Tags:
    stock exchange, coronavirus, oil prices, Russia
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