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Turbulent OPEC+ Headlines Sending Crude Tumbling

OIL

In an erratic session for oil, Bloomberg headlines report that the OPEC+ meeting has been delayed until next week, causing crude prices to crash as a lack of collective measures in the group become apparent.

  • *OPEC+ MEETING HAS BEEN DELAYED UNTIL NEXT WEEK: DELEGATES – Bloomberg
  • This headline came shortly after a Reuters headline said the meeting was to go ahead as planned. OPEC+ MEETING TO GO AHEAD ON SUNDAY AS PLANNED - RIA - [RTRS]
  • Markets are pricing in the Bloomberg headlines at present.
  • Brent JAN 24 down -3.6% at 79.51$/bbl
  • WTI JAN 24 down -3.7% at 74.9$/bbl

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