Oil Drops After OPEC Fails To Reach Oil Freeze Agreement
by Tyler Durden
ZeroHedge.com
6/2/2016
The anticlimatic conclusion to today’s OPEC meeting came earlier courtesy of Bloomberg which moments ago reported that OPEC has failed to reach a new oil supply agreement, but that it has agreed to appoint a Nigerian candidate for new OPEC secretary general.
OPEC HASN’T REACHED NEW OIL SUPPLY AGREEMENT: DELEGATE
OPEC AGREES TO APPOINT NIGERIAN CANDIDATE FOR SEC-GEN: DELEGATE
OPEC MEETING ENDS!
While we would take such preliminary rumors with a grain of salt, the oil market is not happy and has dropped by 0.8%, even if it is still above the levels from yesterday when the rumors of an oil deal emerged.
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