Reuters sources story
Supply cut deal likely to be extended into the second half of 2017
Likely to increase the sixe of the cut above 1.8mbpd
So says not one, not two but three OPEC delegates.
"The willingness to extend the current understanding is strong among OPEC and non-OPEC members" said one, though he countered that by adding; "I have doubts that more cuts will be discussed as the current agreement is yielding a positive result"
He's obviously not seen the price chart today ;-)
Anyway, the comments have put a temporary bottom into brent after it broke the 2017 lows down to 49.33. The 49.60/70 area has already become resistance.
Brent 5m chart
