Problems still at oil meetings
The baseline issues raised by the UAE has not been resolved during the JMMC, according to sources.
All member countries at the JMMC have been supporting an ease of output cuts of the 400K BDP per month from August to December (total easing of 2M BPD by December).
If there is no agreement, the output levels would be maintained.
WTI crude oil is trading around $75 currently. That is below the highs from yesterday at $76.20. The high price today could only extended to $75.62.