Well that Worked Well--OPEC PRODUCTION CUTS

  NYTimes  :OPEC Reaches Deal to Limit Production, Sending Prices Soaring                                                                  By STANLEY REED and CLIFFORD KRAUSS   NOV. 30, 2016

                                        https://www.nytimes.com/2016/11/30/business/international/opec-energy-oil-saudi-iran.html

OPEC Confounds Skeptics, Agrees to First Oil Cuts in 8 Years ...

OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years.      Bloomberg ‎November‎ ‎30‎, ‎2016‎                                                                                                   https://www.bloomberg.com/news/articles/2016-11-30/opec-said-to-agree-oil-production-cuts-as-saudis-soften-on-iran

                            OPEC, Russia Agree On Method To Monitor Oil Production Cuts 

Saudi Arabian Energy Minister Khalid al-Falih said on January 22 that producers had already cut supply by 1.5 million barrels a day -- more than 80 percent of the total target.
Russian Energy Minister Aleksandr Novak was equally jubilant.
"The deal is a success," he said. "All countries are sticking to the deal ... results are above expectations."

                            Multiple Articles much Jubilation and Sage Punditry Followed.


November 30 2016  Price of WTI  $49/bbl         Brent  $51.6/bbl

January 22  2107                              $53.2/bbl                  $55.3/bbl

This morning at 9 am                         $51.22                       $53.2

Change Since  OPEC Agreement     + 4.4%                      +$4.4%

Change Since OPEC/RUSSIA 
AGREEMENT                                    -3.8 %                      -  3.9%      

                                            
                                                         Well that Worked Well   

                                                      WTI  back under $50/bbl by mid March ?