WTI falls to lowest since January 9

OPEC is curbing production but US shale is exploding.

Here's is US oil production, which rose by more than 300K barrels per day last week:

At the same time, Exxon and many other producers said they are going to ramp up investment and production.

Oil made a lower high early in February and is down in four straight days. Heavy selling came today on the break of $62.85.

Last at $61.76.

The selling in oil has spilled over to the Canadian dollar, which is up to 1.2545 -- the highest levels of the day.