The OPEC monitoring committee met today. They have the ability to call for a full OPEC meeting but no one was expecting them to do that this month. They generally meet monthly but they’ve pushed the next get-together back until April so it’s steady-as-she goes for OPEC.
The next big thing to watch is the Russia oil product ban, which is set for February 5 but the EU may change it to a price cap.
WTI crude oil is up 55-cents today to $79.44 despite a bearish private oil inventory report. We get the EIA data today at 10:30 am ET.
This article was originally published by Forexlive.com. Read the original article here.