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IPFS News Link • Oil

Oil Spikes As OPEC+ Meeting Starts, Saudi Oil Minister Urges "Supply Caution", "Vigil

• Zero Hedge

After an inconclusive OPEC+ JMMC session yesterday failed to reach any definitive agreement on oil output, moments ago the closely watched OPEC+ meeting started (watch the webcast here), and oil sprint out of the gate following comments from the Saudi Energy Minister who said the oil market has improved but the uncertainty surrounding the recovery has not receded, and urged "supply caution and vigilance in the oil market" and told members that "the right course of action now is to keep our powder dry, and to have contingencies in reserve to insure against any unforeseen outcomes."