Blog

What would an OPEC+ meeting week be without the parade of strawman, market-testing headlines dropped to gauge traders' stress levels.

OPEC is set to hold an online meeting on Thursday, ahead of OPEC+ meeting later in the day to decide future oil production policy, a source said according to Reuters.

The meeting, which was postponed two days ago, is rescheduled at 4:00 PM KSA on Thursday according to a draft agenda seen by the news agency.

This morning, Reuters reports that, according to four sources:

• "talks are difficult" (well, no news there)

• "a further delay is possible" (possible… not probable)

• "policy rollover is a possibility" (that's the kicker, we suspect, as bulls are clearly hoping for more cuts)

The reaction was swift from the algos…

We await the denials – or confirmations.