The ProShares UltraShort Bloomberg Crude Oil ETF (SCO) closed at $18.84 on December 6, 2024, up 2.5% as crude oil prices faced downward pressure amid OPEC+'s decision to delay output normalization. West Texas Intermediate (WTI) crude traded at approximately $67.35 per barrel, reflecting a persistent supply glut exacerbated by increased U.S. drilling activity, with the rig count rising by seven to 589. The U.S. Dollar Index softened slightly after the U.S. Nonfarm Payrolls report, which exceeded estimates, adding complexity to the market dynamics. Despite OPEC+'s extended production cuts, market sentiment remains bearish due to oversupply concerns and tepid global demand, particularly from China. Analysts predict a potential oil surplus in 2025, with Bank of America forecasting Brent crude to average $65 per barrel.