# US crude plunges to one-year low, extending record losing streak

> U.S. crude fell 7.1% to a one-year low of $55.69 and extended a record losing streak to 12 sessions. The drop followed President Trump's call for OPEC and Saudi Arabia to reject new production cuts, while OPEC and allies were weighing a fresh round of curbs at a meeting next month.

- Date: 2018-11-13 · published 2018-11-13T12:00:00.000Z
- Category: geopolitics · region US · magnitude medium
- Page: https://feedsoft.ai/events/6661-us-crude-plunges-to-one-year-low-extending-record-losing-streak
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Political pressure against output cuts raises the chance of continued supply growth, which keeps crude prices under pressure, though a possible OPEC cut decision could reverse the trend.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-13 | 5 | -8.3% | -2.8 | Trump's call for OPEC/Saudi Arabia to reject output cuts removed expected supply support, triggering a 7% one-day drop within the window and extending the record losing streak. |
| BRENT | 2018-11-13 | 1 | -6.2% | -4.3 | Trump's call for OPEC and Saudi Arabia to reject production cuts removed expected supply support, triggering a plunge extending the record losing streak. |
| WTI | 2018-11-27 | 5 | -9.9% | -3.0 | Trump's call for OPEC to reject cuts and the record losing streak drove a sharp supply-expectation selloff, but it occurred before the 5-day window began. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |
| WTI | 2026-10-01 | [CPO Futures Extend Losses Amid Weaker Crude Oil Prices](https://feedsoft.ai/events/9799-cpo-futures-extend-losses-amid-weaker-crude-oil-prices.md) | -2.3% | +8.7% |
| WTI | 2025-06-24 | [Arab News \| Oil Updates — crude extends losses on lower Middle East supply risk](https://feedsoft.ai/events/10002-arab-news-oil-updates-crude-extends-losses-on-lower-middle-east-supply-risk.md) | -4.6% | -1.6% |
| WTI | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +64.1% | -28.3% |
| WTI | 2026-07-01 | [U.S. crude oil falls below $70, resuming losses after attack on cargo ship near Oman](https://feedsoft.ai/events/18993-u-s-crude-oil-falls-below-70-resuming-losses-after-attack-on-cargo-ship-near.md) | +1.4% | +14.5% |
| BRENT | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | -2.3% | -11.1% |
| BRENT | 2026-10-01 | [CPO Futures Extend Losses Amid Weaker Crude Oil Prices](https://feedsoft.ai/events/9799-cpo-futures-extend-losses-amid-weaker-crude-oil-prices.md) | +2.6% | +8.8% |
| BRENT | 2025-06-24 | [Arab News \| Oil Updates — crude extends losses on lower Middle East supply risk](https://feedsoft.ai/events/10002-arab-news-oil-updates-crude-extends-losses-on-lower-middle-east-supply-risk.md) | -6.9% | -3.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/11/13/oil-markets-opec-global-stock-markets-in-focus.html

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