The Russian press is reporting that OPEC+ is not discussing the possibility of oil production cuts. Say it is still too early.
The "report" is in conflict with Saudi comments that production cuts may take place at the next meeting.
Crude oil is moving a lower today and reversing the strong gains from yesterday that saw the price move and closed above its 200 day moving average at $96.10. Today, the those gains have been erased with the price trading back down toward the lows from yesterday. The current prices trading at $92.33 which is down about $4.60 on the day.
Crude oil vs. gains from yesterday
