Reuters with the headline, citing OPEC sources on the matter
The alliance falls apart - sort of. There's still the case of extending the current set of output cuts at the very least.
The question now is will OPEC still pursue their 1 mil bpd worth of proposed cuts, since the non-OPEC portion is to do with 0.5 mil bpd only.
It looks highly unlikely at this point (market share still important) but if there are no additional cuts coming, the market won't like it one bit surely.
Oil is still keeping around $44.00 currently after the brief dip earlier but the news here will hardly be comforting. If confirmed, there isn't much reason for oil to run higher from here.
