The price of oil slid over a lack of clarity from OPEC about future supply cuts, and increased production in the US.
West Texas Intermediate is down 1-percent on the day, trading at $66.39 per barrel.
The international benchmark for Brent Crude oil is also down about a percent, trading at $76.97.
That sharp drop in price began to slide after the Energy Information Administration a steeper drawdown in US stockpiles.