U.S. crude declines as skepticism mounts over OPEC+ cuts
Publishing timestamp: 2023-11-30 15:54:10
Summary
The article discusses how U.S. crude declined as traders became skeptical that OPEC+ would deliver on promised output cuts. The market was disappointed with the outcome of the OPEC+ meeting, as the cuts announced were short-term and the group failed to agree on a unanimous strategy. Traders are concerned about the voluntary nature of the cuts and whether OPEC+ can actually follow through. The article also mentions that OPEC+ is facing challenges from record production from other nations and is losing market share in Asia.
Sentiment: NEGATIVE
Keywords: united states, business, business news, u.s. economy, ice brent crude (apr'23), saudi arabia, wti crude (mar'23), markets, breaking news: markets, breaking news: politics, breaking news: business,