Saudi Aramco says it will boost production to 12.3 million barrels per day. Russia responded by saying it could boost production by half a million a day, which would put that country’s output to a record 11.8 million barrels per day. Both sides are continuing to negotiate. An all-out oil price war has created an “unprecedented” situation in energy markets, analysts told CNBC Monday, with traders impatiently waiting to see which of the world’s largest oil producers will blink first.
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