Oil prices fell drastically on Friday on the back of news that Russia and Saudi Arabia are considering an increase in their oil production, bringing an end to the production cut deal in its current form. Friday, May 25, 2018 (The most vital industry information will soon be right at your fingertips Join the world’s largest community dedicated entirely to energy professionals (Click to enlarge) Oil prices plunged in early trading on Friday on news that OPEC and its partners, including Russia, are considering a loosening of their production limits (more below). Both WTI and Brent fell by more than 3 percent Friday morning. OPEC and Russia could raise production . Saudi Arabia and Russia are in discussions about raising their production limits, perhaps adding as much as 1 million barrels […]