Prepare for an OPEC Disappointment on Nov. 30 - Citi

Oilprice.com reports comments from Ed Morse, head of commodities research at Citigroup, delivered in a Bloomberg interview, with the key quotes found below.

“There is an exuberance in the market about there being a done deal to extend through the end of 2018 and I think there’s likely to be a disappointment in that come Nov. 30.”

“Our base case is that we do not get a full-year extension on Nov. 30.”

Meanwhile, Russia’s Energy Minster Novak said on Friday that Russia will discuss the OPEC deal cuts extension and duration in Vienna at November 30 meeting.