IEA: OPEC quite likely to put off decision on output until market becomes clearer

IEA Head of Oil Neil Atkinson

Neil Atkinson, head of Oil for the IEA is out saying:

• OPEC quite likely to put off decision on output until market becomes clearer
• Russians knocking to make decision immediately
• Uncertainty on US oil output could also encourage a delay to OPEC policy commitment this week

The price of WTI crude oil futures are down $0.47 or -0.82% at $55.54. The high for the day reached $56.44 while the low extended to $55.35