This blog believes that this specially arranged meeting could surprise with a decision to freeze or cut production, because most of the oil major exporters are already producing at maximum capacity. A surprise decision could spark a short covering rally that could cause oil prices to rise at least another $10 to $54.
At the meantime the downside is supported by expectation of a cut at Algeria. This blog is bullish on oil for the next 2 weeks.
All posts and charts are for educational and illustration purposes only