Brent suffered its biggest one-day loss in more than 11 years on Friday after Russia balked at OPEC’s proposed steep production cuts to stabilize prices as the coronavirus outbreak slows the global economy and hurts energy demand. A three-year pact between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus. OPEC responded by removing all limits on its own production. That triggered a rout, with more than 1 million U.S. crude contracts shares trading hands on Friday. U.S. crude futures settled down more than 10%, the largest one-day percentage loss since 2014. More than 4.58 million U.S. front-month crude contracts changed hands this week, the busiest week ever for that contract. Brent futures fell $4.72, or 9.4%, its biggest fall since December 2008, to settle at $45.27 a barrel, its lowest […]