This is just becoming a farce now... Having soared above yesterday's highs on the Iraqi' deputy oil minister's comments on renewed production freeze meetings, Russia has poured cold water all over it... RUSSIA SAYS NO AGREEMENT ON OIL MEETING IN MAY IN RUSSIA
But no reaction in crude...
Or stocks...
Just as we tweeted seconds before...
When Iraq says "major oil producers" will meet in Russia it means Iraq, Venezuela and Ecuador. Not even Russia will be present.
— zerohedge (@zerohedge) April 20, 2016
RUSSIAN ENERGY MINISTER NOVAK SAYS HAS NO INFORMATION ABOUT MEDIA REPORTS ON OPEC MEETING IN RUSSIA IN MAY