Mixed Signals Ahead of OPEC Meeting

• There are mixed signals on oil production targets ahead of the meeting of OPEC and its allies in Vienna this week.
• Iraqi Oil Minister Thamir Ghadhban said he believed that Saudi Arabia supported his call for more output cuts.
• The chance of tighter supplies, coupled with the positive signs on trade, helped push a barrel of West Texas Intermediate for January delivery above $57.
• The Aramco IPO seems to be going well, with the company considering pricing it at the top end of the marketed range, which would make it the world’s biggest-ever new listing.

(Source: Bloomberg)