Some negative oil headlines cross

Two headlines have helped to sap some strength from the oil market:

  • IEA says an OPEC+ cut of 10 million barrels per day is not enough to stabilize the oil market
  • Even with the cut they see a potential 15 mbpd build in supplies
  • They urged all countries to fill up strategic reserves

Meanwhile Russian news agency RIA, citing an unidentified person said the April 6 meeting may not happen if the sides aren't ready.

A key cog is the US and the Texas Railroad Commission is meeting April 14 so they can't even really come to the table until then.