So say two OPEC delegates earlier this morning

  • OPEC and non-OPEC countries have not yet agreed to hold a meeting to support oil prices
  • a decision has yet to be made on the stand-alone OPEC meeting as called for by Venezuela last week

The indecision continues to undermine oil price but previous hopes helped a decent rally last week. Conjecture on a potential meeting has been building and fading for over a week since Russia suggested talks with OPEC should take place.

The unnamed OPEC delegate told Reuters

" It's all in the hands of the Russians now"

If only it was that simple.

Brent currently $34.95 and WTI $32.31 both hovering near session lows.