the daily chartist

OPEC live press conference in Vienna recap

published 2 years ago
WTI M30

 The conference has ended, here are the main headlines to focus on:

  • SAUDI OIL MIN: `WE HAVE AN AGREEMENT,' DECIDED ON 1M B/D HIKE
  • KACHIKWU SAYS OPEC SIDE TO ADD 700K B/D IN REAL BARRELS
  • SAUDI WILL BOOST OIL OUTPUT, MINISTER SAYS
  • OPEC COMMUNIQUE SAYS GROUP WILL STRIVE TO REACH 100% COMPLIANCE
  • DRAFT OPEC COMMUNIQUE SEEN BY BLOOMBERG DOESN'T GIVE NUMBERS
  • NIGERIA SAYS QUOTAS WERE NOT DISCUSSED IN OPEC MEETING
  • SAUDI MIN: OUTPUT HIKE DEPENDS ON WHICH NATIONS HAVE CAPACITY
  • SAUDI MINISTER: OUTPUT HIKE WILL BE `PROPORTIONAL' BY COUNTRY

 Oil gaining speed on the news, reaching 68, but sellers intervene in the hype.