The drop has come despite a small output cut by the Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, Russia’s threat to cut oil flows to any country that backs a price cap on its crude, and a weaker outlook for U.S. oil production growth.
Fed’s Waller, leaning against March cut, sees easings later in year
Federal Reserve Governor Christopher Waller opposes a rate cut at the upcoming policy meeting. He suggests future cuts are possible if inflation pressures decrease. Waller
March 7, 2025