Oil sank Movement.down.loss 9 percent to its weakest level Position.low in four-month on Tuesday , extending the second-deepest rout on record , after Goldman Sachs warned that futures would plummet Movement.down.loss further and Gulf oil producers showed no sign of slashing Cause.movement.down.loss output .

Oil dipped Movement.down.loss 12.7 percent to its lowest level Position.low in two years on first-quarter , extending the second-deepest rout on record , after Goldman Sachs warned that futures would drop Movement.down.loss further and Gulf Gulf oil producers showed no sign of slashing Cause.movement.down.loss production .

DUBAI -LRB- Reuters -RRB- - Still haunted by its failed attempt to prevent a steep drop Movement.down.loss in oil prices by slashing Cause.movement.down.loss production by almost three quarters in the 1980s , the world 's top oil exporter Saudi Arabia is determined not to make the same mistake again .

Oil fell Movement.down.loss by the most since 1991 on Monday after Saudi Arabia started a price war trade.financial.tension with Russia by slashing Cause.movement.down.loss its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling Movement.down.loss demand because of the virus outbreak .

Oil slipped Movement.down.loss more than 20 % to its weakest level Position.low in two years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would drop Movement.down.loss further and major oil producers showed no sign of slashing Cause.movement.down.loss production .

Oil sank Movement.down.loss 12.7 percent to its weakest level Position.low in nearly six years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would shrink Movement.down.loss further and Gulf oil producers showed no sign of slashing Cause.movement.down.loss processing .

Oil dropped Movement.down.loss more than 15 percent to its weakest level Position.low in one-year on 2015 , extending the second-deepest rout on record , after Goldman Sachs warned that futures would lose Movement.down.loss further and Gulf global major oil producers showed no sign of slashing Cause.movement.down.loss production .