Oil prices fell today on concern about a drop in demand and lackluster production cuts. OPEC+ last week announced production cuts that are voluntary in nature, raising doubts about whether or not producers would fully implement them. Investors were also unsure about how the cuts would be measured. “The market has decided (OPEC+ production plans) are not going to have that much of an impact. It’s more style over substance,” said Andrew Lipow, president of Lipow Oil Associates, said about crude traders on Monday. WTI traded down $1.03 or -1.39% to close at $73.04. Brent traded down $.85 or -1.08% to close at $78.03.

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mars
  • Where: Renaissance Schaumburg Convention Center Hotel
  • Attending: Curtis Chandler (239.405.3365), David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website
mars
  • Where: La Quinta Resort & Club, La Quinta, California
  • Attending: Curtis Chandler (239.405.3365)
  • Conference Website
opis
  • Where: Charlotte Harbor, Florida
  • Attending: David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website