There were two developments today that are important for investors to know about before the markets open on Friday to close the month. First, and most importantly, the results of the OPEC meeting are the most negative outcome for prices. OPEC, which over-produced in October, decided to roll-over the existing quota 30 mln barrels a day. We had noted that the timing of it next meeting would be an important tell. It did not decide to schedule a meeting in the February-March period, when the seasonal demand slacked. Instead the next OPEC meeting is for June. The market's reaction was immediate. The price of Brent oil ... (full story)