The Organization of the Petroleum Exporting Countries (OPEC) and Russia have failed to reach the agreement on oil output cut in early March, which triggered the oil price war and the oil price has dropped by more than 50% within a month. Base on your knowledge on Cartel:

1. Suggest the possible reasons to explain why Russia and OPEC failed to reach the agreement.
2. Discuss how the low oil price might affect the major oil supplying countries.