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Oil Slumps as OPEC’s Surprise Plan to Raise Output Adds to Gloom

(Bloomberg) -- Oil tumbled after OPEC+ unexpectedly rolled out a plan to restore some production to the market this year, adding to the bearish momentum crude has been experiencing for months. Most Read from BloombergKey Engines of US Consumer Spending Are Losing Steam All at OnceMnuchin Chases Wall Street Glory With His War Chest of Foreign MoneyHomebuyers Are Starting to Revolt Over Steep Prices Across USAMLO Protege Sheinbaum Becomes First Female President in MexicoKrugman Says China Is ‘Biza