South African stocks plunged to a more than four-year low on Monday, joining a global sell-off in riskier assets as oil prices collapsed more than 30%, hitting chemical and energy firm Sasol the hardest. Saudi Arabia’s plans to hike crude production and slash its official selling price came after Russia on Friday balked at steep production cuts proposed by the Organization of the Petroleum Exporting Countries to stabilise prices hit by economic fallout from the coronavirus.
