OPEC supply easing is more reset than U-turn

[Gerald]

LONDON (Reuters - OPEC is changing course. For the past year-and-a-half, the Organization of the Petroleum Exporting Countries and producers like Russia have diligently stuck to agreed oil supply cuts. Now Russia and Saudi Arabia are discussing opening the taps by an extra 1 million barrels per day, Reuters reported on Friday. It’s more of a reset than a rethink.

https://www.reuters.com/article/us-o...-idUSKCN1IQ1I9

It may need to open the cranes.