Reuters citing a letter they have seen from Iran's oil minister

Iran oil minister says

  • Iran does not agree with holding any OPEC+ meeting without having a "clear and consensual outcome" to oil market
  • says "vague circumstances" around upcoming OPEC+ meeting is "of grave concern to me"
  • absence of any clear outcome to oil market is "a failure message" even before OPEC+ meeting starts which may aggravate current low oil prices further
  • volume of oil production cut and duration, output cuts by US and Canada, baseline level and distribution of cuts should be addressed before OPEC+ meeting

These seem like quite steep demands from Iran before the meeting has commenced. It is not going to be smooth sailing on Thursday. Note that markets are pretty much closed on Friday and Thursday trade will be thinner than it already is ahead of the break.

Take extra care ahead of a, into and after this meeting (assuming we get some result announced before markets close Thursday).