Indonesia booted from OPEC - Reuters #oott

More twists and turns

  • Indonesia suspended from OPEC say sources

  • OPEC has agreed to distribute Indonesia output share among other OPEC countries

More details of the deal too;

  • Saudi's to cut to 10.06mbpd

  • Iran production to be set at 3.797mbpd (slightly lower than the 3.9m the Saudi's were tabling)

Brent has topped out once more at the 51.37 highs and is now down to 50.86. That's a further indication that traders are finding their deal level. There's still scope for a deal confirmation spike but that might be it.

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