The oil market is going to be a really interesting one to watch next year. The whole deal with the latest OPEC+ pact is that Saudi Arabia has said that they will deliver extra cuts but that will be contingent on other members complying with their own output quotas.

I highly doubt Russia will play ball – or at least consistently – and that could be an issue that will plague the oil market in due time.

Besides that, there is also the case that perhaps most market participants are overestimating the supply glut next year. We’ve already seen signs of US shale companies struggling in recent months and if that blows up into something bigger down the road, perhaps the oil market isn’t as flooded with supply as what many would think.