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Rich Asplund

Crude Prices Retreat on OPEC+ Rift on Crude Production Levels

OPEC Oil EIA United States

January WTI crude oil (CLF24) on Wednesday closed down -0.67 (-0.86%), and Jan RBOB gasoline (RBF24) closed down -0.0122 (-0.55%).

Crude oil and gasoline prices Wednesday settled moderately lower after this weekend’s OPEC+ meeting was delayed until Nov 30 as talks ran into trouble amid Saudi dissatisfaction with other members’ oil production levels. Crude prices were also undercut by a stronger dollar and Wednesday's weekly EIA report, which showed that crude inventories rose more than expected.

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