It feels 2014 all over again. Or 2008. The OPEC+ meeting broke up without a deal on Friday, sending oil prices into a freefall. Brent was down by about 9 percent during midday trading, rapidly heading to the low-$40s. Oil prices could test the 2016 lows before all is said and done. Russia has resisted cutting production deeper. On Thursday, on the eve of the final day of talks, OPEC more or less issued an ultimatum . They proposed 1.5 million barrels per day (mb/d) of additional production cuts, and suggested that OPEC would not cut alone without Russia’s participation. “There will be no deal” without Russia, Iran’s oil minister said. Moscow called their bluff. On Friday, everyone walked away and there was no deal . As of midday on Friday, WTI plunged to $42 and Brent fell to $46, down 9 percent, the lowest level in nearly three […]