Oil Prices Slide As OPEC+ Bump Wears Off

Oil prices slipped further on Tuesday as the market reassessed the OPEC+ production quota cut, and the IMF warned about the increased risk of a global recession. Oil prices slipped over the weekend and again on Monday as the bump realized from last week’s OPEC+ meeting began to wear off. The prices continued to slip on Tuesday, as the IMF Managing Director Kristalina Georgieva and World Bank President David Malpass warned the markets on Monday of the increased risk of a global recession, calling out inflation as a continuing problem. Recession…