Friday, December 07, 2018

OPEC/Non-OPEC cut at 1.2m bpd; Iran's smiling

In case you haven't heard dear readers, which the Oilholic doubts or you wouldn't be reading an oil market blog - OPEC has calmed the crude market with a 1.2 million barrels per day cut, in concert with 10 non-OPEC producers led by Russia.

Both Brent and WTI are up by over 4% at the time of writing, and Iran is smiling all the way to the bank having secured an "exemption" before US sanctions start biting more meaningfully. 

Will provide some more composed thoughts upon return to London from Vienna, as one has to scoot to the airport. That's all from Vienna folks! Keep reading, keep it 'crude'!

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