OPEC meeting has been rescheduled. Lack of co-operation among OPEC impacts oil markets massively. Prices tanked. Options premiums spiked. Put option volumes soared. Implied volatilities jumped.
Boomeranged on Tue, 28 Nov 2023 09:43
OPEC+ is close to resolving a dispute over output quotas. Saudis are reported to be asking OPEC+ members to reduce their oil-output quotas.
Saudi Arabia & Russia are expected to extend output curbs through Q1 2024 to support prices, according to a Bloomberg survey. Half of respondents now see OPEC+ unveiling measures to tighten oil markets when it gathers on Thu.
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