The OPEC cut talk starts up again

<p>OPEC+ is considering a new oil production cut of as much as 1 million barrels a day, according to a <a href="https://www.wsj.com/world/middle-east/opec-mulls-new-oil-production-cuts-amid-middle-east-conflict-f37cef80?mod=Searchresults_pos1&amp;page=1" target="_blank" rel="nofollow">report </a>in the WSJ published earlier. Oil has been volatile today, falling earlier in New York trade and then storming back. A similar pattern played out yesterday.</p><blockquote>"A deal for further cuts isn’t assured, and the prospect is facing
significant resistance within the Organization of the Petroleum
Exporting Countries. A rollover of most existing output curbs is the
most likely scenario, the delegates said, but talks are continuing."</blockquote><p>I would still say there's only about a 20% chance of a cut priced into the market but that's heavy on guesswork.</p><p>WTI crude was last up $1.17 to $77.57.</p>

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