Saudi Arabia predicts no opposition to cuts
Oil is above $50/bbl again as traders anticipate an OPEC agreement to continue price cuts. Crude oil closed the day at $53.75/bbl for Brent and $50.81/bbl WTI, continuing gains since the 17th.

It currently seems highly likely that OPEC will agree to extend production cuts, especially after an announcement by the Saudi Energy Minister today.

According to Reuters, Khalid al-Falih stated on Monday he did not expect any opposition within OPEC to extending oil output cuts for a further nine months. ...


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