The only thing we learned from the OPEC meeting is that they will resume in-person meetings in December in Vienna, which should make some high-end hotel owners there happy.
There's a strong consensus that the OPEC+ meeting will rubber stamp the plan to increase August production. That will essentially end the covid oil curbs and with that only the Saudis and UAE will have an real unused capacity. However there are real questions on whether they have that capacity at all, if you heard Macron this week.
WTI crude oil is up $1.63 to $113.37 in the fourth day of gains.
