Oil: Agreement is not likely today - BBH

Research Team at BBH, suggests that oil investors have been monitoring developments within OPEC ahead of today's meeting in Algiers. 

Key Quotes

“An agreement is not likely today.  However, what many seem to be focusing on are the prospects for an agreement before the end of the year.  One of the key hurdles has been Iran's efforts to return its output to levels seen before the embargo.  Saudi Arabia is reluctant to surrender market share to it.  Oil prices are consolidating at the lower end of yesterday's range.  During the first half of this week, the price of the Nov light sweet futures contract seems comfortable $44 and $46 a barrel.”