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Barchart
Rich Asplund

Crude Recovers Early Losses as OPEC+ Delays Planned Crude Output Hikes

OPEC Oil United States Vladimir Putin Russia

January WTI crude oil (CLF25) today is up +0.11 (+0.16%), and January RBOB gasoline (RBF25) is up +0.0023 (+0.12%).

Crude oil and gasoline prices today recovered from early losses and turned higher as the dollar weakened.  Gains in crude accelerated today after OPEC+ said it would delay the revival of its oil production by three months, the third time it has deferred the move.  Today's weaker-than-expected global economic news signals stagnant fuel demand and limited gains in crude.

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