A brief rally in crude oil deflated Dec. 28 as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+.
Futures in New York were little changed in the wake of thin trading volumes. Russia’s deputy prime minister said the nation plans to support a further gradual increase in OPEC+ production at the next meeting in January, because crude prices are within an optimal range.
