Brent crude higher this morning after OPEC delay output meeting

Brent crude for February delivery peaked on Friday afternoon, at $73.34 per barrel. It then fell back into the European close and further into the weekly NYMEX settlement, where it closed on that exchange, $0.46 lower, at $71.84. The low seen on Friday evening was set at $71.75. Today it has rebounded back above $72.50 a little earlier. OPEC was set to sit around the table yesterday and today, but that meeting has been put back until Thursday. The cartel is expected to once again delay a previously planned, modest output increase. It seems likely that OPEC will as usual do all in their power to try and engineer prices higher by the end of the week. At the same time, there is not clear consensus on that and the markets will have to wait to see what unfolds. Brent for February delivery is currently trading at $72.37