OPEC+ countries said to discuss oil output cuts for 2019
According to Bloomberg, citing unnamed OPEC+ delegates
- OPEC+ countries concerned about increase in oil inventories
- Ministers to discuss cut options in Abu Dhabi
This adds more backing to the earlier story here and will continue to help underpin oil prices surely. The OPEC+ JMMC will meet next on 11 November so this will build up expectations for a production cut that will help to keep prices afloat after having touched a seven-month low yesterday.
Expect more rumours and headlines to come about in the next few days. WTI now trades 0.93% higher on the day at $62.79.