OPEC Deal In Principle Calls For Nominal 1M B/D Production Hike

It looks like we have a deal! After days of speculation and a whole lot of aggressive rhetoric and brinksmanship from the Iranians, OPEC looks to have the basis for a deal on a production increase. According to a delegate, the agreement (in principle) calls for a nominal 1m b/d production hike. Again, that's in nominal terms and in line with reports from earlier this week, the actual increase will amount to something on the order of 600k b/d. That would entail a return to 100% compliance wit
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