Russia has agreed to reduce oil output intended with OPEC in 2019

Reuters sources headlines

A Reuters source headline is out saying:

• Russia has agreed to reduce oil output in tandem with OPEC and allies in 2019
• Debates about figures and baseline for cuts still ongoing

the price of WTI crude oil futures are trading up $1.09 or 2.03% at $54.32

Technically, looking at the hourly chart below, the price low today stalled right at the convergence of the 100 and 200 hour MA and bounced. Bullish. The 100 hour MA currently comes in at $52.42. The 200 hour MA comes in at $52.01. Staying above now (and through the meetings) will keep the bulls more in control.