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Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies.

Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies.

Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts.

Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.

The wind changed again in a stormy oil market as OPEC signaled it will consider a return to cutting output next year, potentially making the second production U-turn this year.

President Donald Trump resumed his criticism of OPEC, saying on Twitter that the cartel “must get prices down now!”

OPEC expects supplies from its rivals to increase by the most in five years in 2019, with extra oil from the United States alone sufficient to meet the growth in global demand.

Libya’s oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation’s biggest export terminal. Oil rallied.

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.

Oil dropped as OPEC’s production increased last month, at a time when U.S. drillers are also ramping up.