Investor Alert

Market Pulse Archives

April 9, 2020, 2:29 p.m. EDT

Oil turns lower as traders weigh reports of an OPEC+ output-cut deal

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Crude Oil May 2020 (CLK20)

or Cancel Already have a watchlist? Log In

By Myra P. Saefong


Oil futures traded lower Thursday, giving up earlier gains, as news reports said Saudi Arabia and Russia have reached a preliminary deal to cut crude production. Some news reports say that the Saudis and Russians each agreed to limit their production to 8.5 million barrels a day each from May through June. Other reports say the Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, have agreed to a 10 million barrel-per-day cut. Virtual discussions among OPEC+ continue. Ahead of the day's settlement, May West Texas Intermediate crude /zigman2/quotes/209724760/delayed CLK20 -8.67% was down $1.44, or 5.7%, at $23.65 a barrel after an earlier high of $28.36. June Brent crude fell 99 cents, or 3%, to $31.85.

Read the full story:
Oil prices settle lower as investors weigh reports of an OPEC+ output cut deal

US : U.S.: Nymex
$ 10.01
-0.95 -8.67%
Volume: 0.00
April 21, 2020 2:29p

Get news alerts on Crude Oil May 2020 — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.