CNBC Squawk Box just reported from Algiers that a deal is being mooted which includes.
Saudi reduce 400,000 bpd from august production.
Iran cap at 3.7m bpd.
Overall OPEC reductions near 1M bpd
They interviewed the Nigerian oil minister or representative who was confident of agreement.
I would have thought this would support the Brent oil price.
Unfortunately since the report, Brent prices are dropping.
I give up!!!!!!
FT
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