Oil: Russia and Saudi rumours in the air ahead of Doha - Investec

Research Team at Investec, suggests that on Sunday we have the highly anticipated oil producers’ (OPEC and non-OPEC countries) meeting taking place in Doha.

Key Quotes

“There have been rumours that Russia and Saudi Arabia have already met privately and agreed to freeze output even without agreement from Iran, who wishes to return their output to pre-sanctions levels. Certainly markets will be watching the oil price reaction to any announcement, drawing conclusions on how this will affect inflation and in turn monetary policy around the world.”