Even OPEC+’s Deep Cuts Couldn’t Keep Oil Markets From Plunging
- OPEC+ meeting still ongoing after deal tentatively reached
- West Texas Intermediate sank 9% while Brent declined 4%
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Some of the world’s largest oil producers were finalizing a deal that would take an unprecedented 10 million barrels a day of crude off the market in an bid to resuscitate prices pummeled by the coronavirus pandemic.
The market’s crashing anyway.