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Barchart
Barchart
Rich Asplund

Crude Prices Fall as OPEC+ Members Disagree on Crude Production Quotas

OPEC Oil Saudi Arabia United States

January WTI crude oil (CLF24) on Monday closed down -0.68 (-0.90%), and Jan RBOB gasoline (RBF24) closed up +0.0088 (+0.41%).

Crude oil and gasoline prices on Monday settled mixed.  Crude prices are under pressure from a dispute among Saudi Arabia and other OPEC+ members on crude production levels.  Also, weaker-than-expected U.S. economic news suggests weaker growth that is negative for energy demand and crude prices.  A weaker dollar on Monday was supportive of energy prices.

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