Here are the latest rumours from the OPEC’s meeting. As we can see, it seems that any deal is unlikely at the moment:
- 2 OPEC Sources: Little Progress At OPEC Meeting So Far
- Iran’s Position Makes Agreement On Oil Output Ceiling At Meeting Unlikely
In addition from the Saudi Arabia:
- Saudi Arabia is concerned about effect of low prices
- Saudi Arabia does not want to see an oil shock
Given it all we are sceptical that the deal will be reached and so is the market. The oil losses 40 cents after the news hit the wires.
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