U.S. Crude Dips Below $70 Ahead of OPEC+ Meeting

U.S. crude dipped below $70 a barrel for the first time in two weeks ahead of an OPEC+ meeting at which major producers will debate whether to cut output to bolster oil prices.

Comments by officials in member states suggest the cartel is likely to stick with current cuts instead of deepening them, which could pull prices lower, said Robert Yawger, executive director for energy futures at Mizuho Securities USA.