Tuesday, June 16, 2026

Oil Back Under $49: with OPEC Cuts Baked in, Prices Fall as Markets Expects More

OPEC will keep cuts for nine more months The Organization of Petroleum Exporting Countries announced Thursday that it will extend production cuts for nine more months, through the end of Q1, 2018. Oil prices dropped more than 5% on Thursday following the prior few days’ news that the deal would continue. That bit of positive news in the past couple