From Osama Rizvi: Since the Vienna oil deal (30th December) oil prices have been in a game of tug-of-war.
On one side is the optimistic viewpoint in the form of production cuts and its compliance. The meeting on 21st of January between the oil producers further bolstered that positivity. This week, Russian oil minister Novak said that 1.4mbpd has been taken of the global markets.