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Brent Oil jumps as OPEC said to discuss a 1-2 million output cut for later today
The price of WTI and Brent crude has just jumped higher. That move comes following reports from OPEC sources of a discussion surrounding a potential 1-2 million output cut today. That is not confirmed here by any means, but that is the news emerging a moment ago, reported by Reuters. Now, as noted here yesterday, the January contract for Brent has expired, so we are now trading the February contract on the platform. That has lifted above $83 per barrel once more and it is extending that move right now. Brent crude for February delivery has just risen close to $83.50 on these reports. It is currently trading at around $83.40
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