# Oil slumps on worries that supply cuts are playing catch-up to falling demand | Reuters

> Oil prices dropped sharply as US crude slid toward $20 a barrel. Investors bet that pandemic-driven fuel demand destruction would outweigh record OPEC+ output cuts that are being implemented slowly.

- Date: 2020-04-14 · published 2020-04-14T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4483-oil-slumps-on-worries-that-supply-cuts-are-playing-catch-up-to-falling-demand
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Slow implementation of supply cuts against a roughly 30 percent demand drop leaves storage filling and prices under pressure. Lower crude weakens energy-linked costs and biofuel demand support.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/business/oil-slumps-on-worries-that-supply-cuts-are-playing-catch-up-to-falling-demand-idUSKCN21W02B/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.