Chatter of deals and production cuts increases but is it real or just more bluster?
The saying there’s no smoke without fire could be applicable to oil markets right now. We’ve been hearing calls for OPEC to hold emergency/extraordinary meetings for months. It’s natural for countries seeing their incomes drip through their fingers, as the price of oil falls, to start getting grouchy. Nigeria were at it a week or so ago and they were at it this time last year too.