The comments from the OPEC delegate meeting to Iran are filtering out
The Iranian oil minister has said he's in support of actions to stabilise prices but there's been no news that they're going to join in, which wasn't expected anyway.
Perhaps a wasted trip for the fun bus of OPEC delegates, maybe they got some cheap duty free goods as a bonus.
Oil hasn't really reacted one way or another.
The next OPEC meeting isn't until June so that's a huge amount of time for headlines and other deals to come together. Just from recent news, if I had to guess an outcome, it would be that the production freezes get set in stone but conditions for countries like Iran and Libya to reach certain production levels before freezing
Still the big factor that's lacking is any production cuts and that will be the big news if it comes. The basis for freezing production is that OPEC/Saudi's expect oil use to continue growing, thus reducing the glut. I assume you all see the flaw in that plan? ;-)
