oil

Back in November 2015, when the world (or at least parts of it) was trying to answer one simple question: where does ISIS get its money, we first provided the answer in "Meet The Man Who Funds ISIS: Bilal Erdogan, The Son Of Turkey's President." Subsequent articles such as "ISIS Oil Trade Full Frontal: "Raqqa's Rockefellers", Bilal Erdogan, KRG Crude, And The Israel Connection" only shed more light on the illegal cash-for-oil transfer taking place between Turkey's ruling family and the Islamic State.

With celebrations continuing at the site of the Dakota Access Pipeline protest (following the "Monumental victory" following the Obama administration's decision not to grant the construction permit), it appears the Trump administration has very different ideas.

Having confirmed Trump's support for the pipeline (not to do with his investments), Reuters reports a Trump advisory group proposes the politically explosive idea of putting oil-rich Indian reservation lands into provate ownership.

The greatest trick OPEC ever pulled was convincing the world to buy oil even as production kept rising to new all time highs. Case in point, just out from Reuters:

Defying numerous skeptics, today's historic OPEC decision to cut production, a first since 2009, marks a clear turning point in cartel, and especially Saudi Arabian, politics: individual country quotas have been allocated to all members, a third-party production verification process has been established, and the world’s largest crude oil producer Russia has committed to freeze production.At least, that's what the deal looks like on paper.

For those who missed today's fireworks, which saw oil soar as much as 10%, here are the key details.

One day ahead of OPEC's much anticipated meeting in Vienna, oil has slid back under $46 on rising pessimism that an oil production cut deal, taken widely for granted as recently as last week, is not going to take place.

Here is the latest rundown of events heading into the Wednesday meeting.