Once OPEC+ countries got a taste of that $100 oil they liked it.
This 100k bpd cut is a token move in a 100mbpd global market but it's an important signal that OPEC+ won't tolerate falling prices. It also reverses the 100k bpd cut from last month.
In any case, OPEC is missing its output targets by a wide margin.
WTI is up $3 to the highs of the day.
