The current rally on oil it is actually a fake.
As posted before the agreement to cut is so generic that is bound to fail. It was just a preventative measure not to let oil fall back to USD 30.
The top for oil, if the lie goes undiscovered, is USD53 and at maximum USD60.
The first test of the lie will be the 28/29 October where there is a technical meeting on how to cut production in Vienna (expectations are low as Iran and Iraq are not attending). But already a few nations start to ask to be excluded by the production cut.
Then the real meeting is the 30 November.
investorpolitico 