OPEC+ traders watch $64 oil crash 2% as cartel debates October output hike
Key Points
- WTI crude prices dropped $1.30 to $64.31 amid OPEC+'s indeci...
WTI crude just took a $1.30 tumble to $64.31 per barrel on September 3rd, proving once again that oil markets have the emotional stability of a caffeinated day trader watching their portfolio during earnings season. The culprit? OPEC+ is having another one of their "should we pump more oil or not" meetings, and apparently the mere possibility of increased October output was enough to spook the market.
The Great Balancing Act That Nobody Asked For
Here's where things get spicy: OPEC+ just finished adding 547,000 barrels per day in September, wrapping up their grand plan to reverse a previ...
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