OPEC Meeting

OPEC has its last meeting of the year today, but the outcome is already decided.

OPEC, which pumps 40 percent of the world’s oil, will “absolutely not” change its output quotas, Saudi Arabia’s Oil Minister Ali al-Naimi said yesterday.

This being the case, oil markets reacted with a shrug.

The main driver of markets at present is rather the extremely cold weather and its impact on demand.