Meetings used to be for deciding things.
But with central banks and oil cartels, it's all decided ahead of time nowdays. The OPEC JMMC monitoring committee is meeting now and at 9:30 am ET (2:30 pm in London), the main meeting will get underway. It's all in virtual format, so the leaks are a tad less porous than usual but the basic tenants of the deal are out there.
Saudia Arabia will extend its 1 mbpd 'lollypop' and Russia will continue to curb exports by 300k bpd.
Reuters reports now that the cuts could appoach 2 mbpd depending on countries' willingness to contribute. That's a bullish headline.
