Russia agrees to rollover current OPEC production – report

Oil higher on the report

Iran oil journalist Reza Zandi reports:
An informed source just told me that it appears that Russia has agreed that there won’t be any increase of 500 thousand bpd for the month of February, but, not the cessation of increase for the month of March.
If Iran can somehow enter the market in February, the situation for the month of March will be complicated
WTI is at the highs of the day, up $1.07 to $48.69.
The OPEC meeting gets back underway at the bottom of the hour.
Update: Another more-mainstream report is now saying the same thing and oil has risen further, to $49.00.