OPEC starts working on oil supply cut exit strategy

News out via Reuters

Citing two OPEC sources that they have started working on plans for an exit strategy from the current deal to cut supplies with non-OPEC member producers.

They say that the group's secretariat in Vienna will be tasked to work on a plan with different options and it's too early to say now what the plan would look like.

"It's a continuity strategy, rather than exit", one of the sources said.

No reaction from oil markets. Both brent and WTI crude are mildly lower on the day, and still stuck within the wedge that I pointed out here two days back.