HomeMarket NewsEnergy Sector in Chaos: Oil Continues Downward Spiral After OPEC+ Cuts

Energy Sector in Chaos: Oil Continues Downward Spiral After OPEC+ Cuts

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Data analyzing in commodities energy market: the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.

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The energy sector continues to witness a tumultuous period as crude oil futures closed lower for the third consecutive session. This decline comes as the post-OPEC+ market demonstrates skepticism towards the impact of voluntary production cuts.

β€œOil has morphed into a market that requires substantial proof,” stated RBC analysts Michael Tran and Helima Croft. They indicated that the market is currently prone to moving lower in the absence of clear catalysts and amid significant ambiguity.

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