OPEC is holding its biannual two-day meeting in Vienna starting tomorrow and is widely expected to agree to pump more. See the players that support the increase (including Russia) and what to expect.
Are investors back to trading risk? U.S markets started this week under modest pressure after oil producers failed to reach a deal on an output freeze in Doha over the weekend. Naturally, the energy complex started the week gapping lower, along with the commodity sensitive bloc of currencies. Nevertheless, bargain basement hunters did appear mid-session yesterday and eventually pushed the Dow Jones Industrial average to surpass the +18k psychological mark for the first time in nearly a year.