The cartel is struggling to convince markets that it can stabilize oil prices. WSJ’s Sarah Kent takes a look at the current state of OPEC’s power. Oil prices continued a precipitous slide to a fresh one-year low on Tuesday, weighed down by concerns over global growth and uncertainty over the impact of production cuts from major exporters. Light, sweet crude for January delivery was down 5%, at $47.41 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 3.7% to $57.39 a barrel.

Source: Wall Street Journal December 18, 2018 10:52 UTC