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Barchart
Rich Asplund

Crude Slumps as Announced OPEC+ Crude Production Cuts Lack Details

OPEC Oil United States

January WTI crude oil (CLF24) this morning is down -2.31 (-2.97%), and Jan RBOB gasoline (RBF24) is down -0.0727 (-3.23%).

Crude oil and gasoline prices this morning gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million bpd but did not provide details on how the cuts would be implemented.  A stronger dollar today is also weighing on crude prices.

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