Brazilian ethanol prices sink on the back of OPEC dispute over production cuts

In Brazil, Platts reports that ethanol prices have tanked in response to OPEC failing to agree on production cuts, a spat particularly focused between Russia and Saudi Arabia, which in the face of coronavirus impacts that are expected to cut demand for fuel, has also pushed down ethanol prices. Ethanol prices last week were reported to have fallen by more than 11% against a record high on February 19. Oil prices have fallen more than 40% since early January.