Oil Prices Sink as OPEC+ Cuts Fail to Convince Market
• Oil prices fell amid skepticism that OPEC+ supply cuts will stabilize market
• Prices dropped despite speculation Fed is done hiking rates and potential for tighter Venezuela sanctions
• Comes after OPEC+ agreed to deepen production cuts to shore up prices
• But OPEC discord and rising non-OPEC supply clouding market outlook
• Until cuts' impact is clear, oil likely to remain volatile and potentially directionless