Oil And Gas Prices Fall As OPEC Fails To Act

Oil sank again as OPEC+ backed away from an emergency meeting. OPEC’s Joint Technical Committee (JTC) recommended extending the current production cuts through the end of the year while adding an additional 600,000 bpd in reductions.  Russia hesitated last week, before signaling some support for additional cuts. Still, nothing has yet been confirmed or approved. OPEC+ had raised expectations of an emergency meeting, rumored to take place as soon as this week, but now it looks like nothing will occur before the previously scheduled meeting…