Oil markets fall as it is reported that OPEC+ members are not looking for another production cut

• Bloomberg have reported that the biggest OPEC+ members are not looking for another production cut.
• WTI fell from the USD 57.43 per barrel resistance level after the news.

Brent and WTI are nursing wounds this afternoon as it emerges that some OPEC+ members are not looking for another OPEC production cut.

It was reported earlier in the week that Saudi Arabia wanted OPEC member to further adhere to current commitments rather than cut production again.

It is not clear which member of the OPEC+ cartel the report is talking about but it has had an effect of the price of both WTI and Brent,

To rub salt into the wounds there was also a larger than expected build in DoE inventory levels today and API inventory levels on Tuesday night.