A raft of comments coming in from various members as they file into the meeting
- Iraq says they are for the unity of OPEC
- Venezuela says they will propose OPEC cuts and the market is oversupplied by 2mbpd, says shale oil is a disaster
- Qatar sees harmony among members and no crisis and
- Algeria says they are willing to cut output
- Ecuador says oil market is oversupplied
While it’s looking highly unlikely we’ll get wholesale production cuts we could well get some piecemeal moves to appease some of the members. It’s a small risk.
For oil buffs, there’s an OPEC webcast running which you can find here (h/t Livesquawk & reader Brad)
