December OPEC meeting to discuss on oil price setting strategy

OPEC production rates are anticipated to come down till 2019 by an internal OPEC report when more marked decline is not seen in non-OPEC production. In order to drive the aniticipations on OPEC, nevertheless it would need to decrease. 

There was a rise in the production, albeit small, which was projected in the DOE figures yesterday. This weekly data is not reliable, but the production in US seems to be stabilized n last two months.

"This is why some countries want to raise the issue of a price setting strategy at the OPEC meeting in December, though it is questionable whether the Gulf states will play along. Like the oil ministers of Kuwait and Norway, we do not see the currently low prices as sustainable", says Commerzbank.