It will be an interesting weekend in Vienna as Reuters now reports that the additional cut would be 1 million barrels per day. None of this is a huge surprise and the timing of the leaks before the weekend appears designed to put a squeeze on shorts but that squeeze will reverse on Monday if they don’t follow through.
With this though, it looks like WTI could close the week above $72.
This article was originally published by Forexlive.com. Read the original article here.