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Have OPEC and Non-OPEC Cuts Reduced Bearish Sentiments for Oil?

Have OPEC and Non-OPEC Cuts Reduced Bearish Sentiments for Oil?

On December 10, US crude oil January 2019 futures closed ~$1.65 below January 2020 futures. On December 3, the futures spread was at a discount of ~$1.12. From December 3 to 10, US crude oil January futures fell 3.7%.