The OPEC meeting is on December 5 and earlier in the month there was talk of deeper cuts but that was always a low likelihood and Russia poured cold water on the idea. The aim will be getting to 100% compliance in the countries that are producing above quota.

This report gives a good baseline for what’s expected with 3 months seen as a a modest disappointment and 6 months mildly positive. The much-more interesting story in oil in 2020 will be shale production

Here is the oil chart: