Pre Memorial Day ruse
Now this from CNBC
Oil prices rebounded sharply on Wednesday, supported by a report that Saudi Arabia, other OPEC states and non-OPEC allies aim to stick to a global pact on cutting oil supplies until the end of 2018.
The producers are ready to make gradual adjustments to offset any supply shortage, a Gulf source familiar with Saudi thinking said.
Global benchmark Brent crude has dropped by as much as $5 a barrel this week from a 3½-year high of $80.50 a barrel on May 17, after reports that OPEC and Russia may increase supply at a June meeting.
However, the oil producers participating in the output reduction deal are satisfied with the result of their agreement, which was due to end at the end of 2018, the Gulf source told Reuters.
Oil on the increase
Go figure
Cheers
BW
Bring on the 20th of August!, page-44
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