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Rich Asplund

Crude Prices Sink on OPEC+ Rift on Crude Production Levels

OPEC Oil EIA United States

January WTI crude oil (CLF24) this morning is down -2.98 (-3.83%), and Jan RBOB gasoline (RBF24) is down -0.0787 (-3.56%).

Crude oil and gasoline prices this morning are sharply 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 today's weekly EIA report, which showed that crude inventories rose more than expected.

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