Shame on you! Have you been too quick to judge OPEC? OPEC has taken offense to the crude oil market’s biggest selloff in 9 months. The selloff that started when OPEC failed to map out a plan to cut production with non-OPEC producers caused doubt about OPEC's ability to get a deal done by the end of this month.
Crude oil prices were under pressure after Mario Draghi magic seemed too eased off. Oh, sure, after Mario Draghi said he was disappointed with growth and the lack of inflation, oil got a bounce. Yet, when Asian and European stocks gave up the gains, oil prices falter until a headline came out about those Chinese Military ships that are moving off of the coast of Alaska.