.Perhaps the trigger for yesterday's abrupt cut in oil production from OPEC members was due to comments from the White House that it would struggle to buy oil this year and that it would take years to refill the Strategic Petroleum Reserve.
They have previously said the purchase would start at or below $67 to $72 a barrel.
Reports suggest the remarks have angered Saudi Arabia, and so OPEC's leading nations have embarked on a 1.66 million barrel-per-day cut. WTI crude oil is now trading near $ 80 a barrel levels and a candidate for further rally.
Follow us on the free TV channel from here.
