OPEC meets on Thursday.

OPEC will meet on Thursday, and of course there has been a lot of chatter in recent days.

Algeria is chatting now (I assume oil minister). He says:

  • It (and Saudi Arabia) support extending oil output cut by nine months
  • They add that they and Saudi Arabia also support keeping OPEC and non-OPEC cooperation framework for 2018

The price of Crude oil is trading at $51.39 currently, up $0.27 on the day (or 0.53%). The high reached $51.45, while the low reached $50.57.