Novak says no agreement of meeting in May Iraqi deputy oil minister told Bloomberg earlier that OPEC and other producers would meet in Russia, possibly in May. Novak could simply be playing coy here. Just because there is 'no agreement' doesn't mean there have been no talks. Meanwhile, oil is absolutely crushing the shorts with prices surging since the inventory data. That's been a brutal trade because almost all the headlines have been oil-negative. (full story)