Reuters, citing an OPEC source
Quick pop in oil to erase nearly all of today’s loss on the headlines.
The ‘non-OPEC involvement’ is the real caveat. Russia has cut 160K bpd out of 11mbpd and that was probably only a season blip. Shale is ramping up non-stop and no one else is interested in cooperating.
OPEC support increases for extending cut into H2, but want non-OPEC involvement
ByAdam Button
Mar 20, 2017