The cartel is struggling to convince markets that it can stabilize oil prices. It isn’t just that there is too much oil sloshing around the world. All of a sudden, there are fears of too little demand for the stuff too. Oil prices continued to tumble Thursday, falling as much as 4%, with Brent crude, the international benchmark, falling to its lowest levels in 15 months. The U.S. benchmark, West Texas Intermediate, traded for $46.61 early Thursday and is down almost 40% since a high in October.

Source: Wall Street Journal December 20, 2018 11:52 UTC