OPEC said to have preliminary agreement for deeper production cuts in early talks

<p>And there is word now that we might see deeper production cuts make its way through. Reuters is saying that these additional cuts will be more than 1 mil bpd. Keep in mind that this meeting is the one before the official meetings later today. Oil is now rallying on the headlines with WTI crude up 2% to $79.30 on the day.</p>

This article was written by Justin Low at www.forexlive.com.