OPEC's JTTC monitoring committee is meeting today and oftentimes it lays the groundwork for OPEC+ moves. By trimming the surplus, it offers some cover to add oil into the market.
Earlier, a Fox report said the Saudis will push OPEC to increase production.
Despite that, oil is up 50-cents today. You wonder if someone had that info yesterday and was dumping oil futures as crude fell $5.