Global equity markets have turned sour as the energy sectors stumble on crude oil’s decline on the fallout from both the Baker Hughes rig count and Iran capitalising on their exemption from the OPEC output deal to increase output. However, suspicion continues to run high ahead of January 13 meeting that OPEC ‘capacity to reach an irrevocable agreement to limit production is questionable. It appears the combination of the above factors has cleared out a sizable portion of weaker long Oil patch positioning. Add Brexit to the list of the main sentiment drivers as Sterling moved to a ten-week low in response to PM May’s ... (full story)