The WSJ on the deal

The OPEC meeting may continue for awhile yet but here's what we know so far.

  • Reuters sources say output cap will be 32.5mbpd
  • WSJ sources say 32.5 mbps to 33.0 mbpd
  • August production was a record 33.2 mbps

The latest reports say they will wait until November to finalize a deal.

"A committee would be formed to study how to carry out the cuts and then report to the cartel at its next meeting on Nov. 30 in Vienna," the WSJ reports.

WTI is trading up $1.95 to $46.63.

Update: OPEC will be releasing a final statement after the talks.