OPEC Agreement

[dan_s]

Oil prices were up Monday as Iraq is "optimistic" on a deal this week but Saudi Arabia said a cut might not be needed and ministers from Algeria and Venezuela headed to Russia to get the non-OPEC producer to freeze production.

Iraqi oil minister Jabbar al-Luaibi told reporters in Vienna that he was "optimistic" a deal would be reached on Wednesday.

Everything is pure speculation at this point, but here is a good article: http://www.investors.com/news/oil-could ... ptimistic/