Oil prices end at highest in 3 weeks as OPEC+ agrees to a large output cut while U.S. supplies fall

Traders show some doubt that OPEC+ can follow through with production cuts

Oil futures ended Wednesday at their highest price in three weeks after OPEC+ agreed to reduce output by 2 million barrels a day and U.S. data revealed a second straight weekly decline in crude supplies.

Still, traders were unsure of just how much the group of major producers will really manage to cut output given that they have been unable to reach their previous production quotas.