Oil prices have entered a bear market, with Brent crude and Nymex West Texas Intermediate hitting five-month lows due to concerns that OPEC+ production cuts won't offset a potential demand drop from a global economic slowdown. Brent crude is down 21.9% from its September peak, and WTI is down 24.5%. The United States Oil Fund (USO) has also declined, falling 18.9% from its recent peak. OPEC+ struggles with internal agreement on output cuts, and U.S. oil stockpiles are growing, further pressuring prices. Economic growth concerns in the U.S. and Europe, contrasted with China's recovery efforts, add to the demand uncertainty.