Reuters just now:
"OPEC member Iran is expected to attend an oil producers meeting in Doha on April 17 to discuss the freeze on global oil production, although it may not take part in the discussions, a source familiar with Iranian thinking said on Tuesday."
As long as they are there, the perception will be the new oil cartel incorporating 78% of global output can get it's act together and the first such agreement for 15 years will seal the upwards trajectory of oil. The current POO consolidation around $40 is due to recent unprecedented short covering having run it's course, but notions of oil retracing are fanciful IMO.
SXY Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
