With sales down 20% and layoffs hitting 6% of its workforce, Beyond Meat is acknowledging that its moment in the plant-based spotlight has faded — at least for now. The company, which is cutting about 44 jobs, says it needs “a fundamental reset for our brand and category,” according to president and CEO Ethan Brown. To lead that reset, Beyond has tapped John Boken of consulting firm AlixPartners as interim chief transformation officer. It’s also leaning into a shorter name — “Beyond” — in a bid to shed some of the baggage around meat imitation. “We believe it provides for reduced emphasis on facsimile,” Brown told investors on a webcast, referring to the “complicated frame” of animal protein replication. He said the streamlined name could also help “widen our aperture beyond animal protein replicates” and into broader consumer protein needs.

Oil is holding above $50 a barrel as speculation mounts that members of the Organization of Petroleum Exporting Countries will prolong supply curbs to prevent the market returning to surplus next year. At the same time, there are signs that growth in U.S. shale oil, which has kept a lid on prices, may be slowing as drilling declines. “The market will probably take it positively if OPEC can explain their thinking on how it works when they’re not voluntarily holding back oil from the market anymore,” Torbjorn Kjus, analyst at DNB Markets said. “There’s a fear in the market that when the deal runs out, then it’s every man for himself again, and that’s not what they’re thinking.” Click Read More below for additional information.

Futures rose 0.8 percent after advancing 0.6 percent on Monday, rebounding from a weekly loss. Crude stockpiles probably slid by 750,000 barrels last week, a Bloomberg survey showed before an Energy Information Administration report due Thursday. Oil last week fell the most since May on speculation rising global output may offset supply curbs led by members of the Organization of Petroleum Exporting Countries. The output-cuts deal is set to expire at the end of March and the group is likely to discuss an extension at its next meeting on Nov. 30. Its de facto leader, Saudi Arabia, said state oil company Saudi Aramco will ship 560,000 barrels a day less than customers are requesting in November. Saudi Aramco plans to supply 7.15 million barrels a day “despite very strong demand” that exceeds 7.7 million barrels a day, the Saudi Energy Ministry said in a statement. Click Read More below for more of the story.