So says a Saudi oil source
It was fun and games in oil markets yesterday as various stories hit the wires saying that there were going to be agreements on production cuts. There were rehashes, misquotes, and more than a little embellishing of comments from certain parties
The best place to read it all is on the Americas wrap from yesterday
Separately Russia's energy minister Novak is just out and saying that they won't participate in the OPEC meeting and won't be part of any production cuts
- OPEC should observe its own quotas
- OPEC unlikely to change output quotas at meeting
- Says it's not expedient to decrease oil production
Basically, "strike us off the production cooperation list".
