January crude oil prices traded lower during the overnight and early morning hours, pressured by a disappointing tone from the Fed and preliminary US inventory data that showed an unexpected weekly build. Global equity markets were also lower, the Euro currency reached a new 11 month low against the US dollar, and there were fears that some Euro zone nations could face a debt downgrade. OPEC members meet in Vienna today and are expected to boost their official production quota to 30 million barrels per day, closer to what they are actually producing.