Saudi Arabia highly likely to extend 1m BPD 'lollypop' cut until spring – report

<p>WTI crude is up $2.94 to $75.84 as it has nearly erased yesterday's sharp decline. The latest positive news is a sources report saying that Saudi Arabia is highly likely to extend its voluntary cut "at least until the spring".</p><p>The next OPEC meeting is Nov 26. Saudi Arabia has around 3 million barrels per day of spare capacity.</p><p>The report also says that an additional 1 mbpd OEPC cut is on the table.</p>

This article was written by Adam Button at www.forexlive.com.