Crude Jumps On Report Saudis Fully Implemented OPEC Output Cut

Jon Alternative Media, Blogosphere, Energy

BREAKING: Saudi Arabia has cut oil output by at least 486,000 b/d 10.058 million b/d, fully implementing OPEC cut pledge: Source @WSJ
— Georgi Kantchev (@georgikantchev) January 5, 2017

Despite earlier comments that the Saudis did not appear to have implemented their output cut (as per OPEC agreement), WSJ reports that Saudi Arabia cut oil output – fully implementing OPEC cut pledge. Oil is bouncing on the news.
From this morning – no cut!:

This post was published at Zero Hedge on Jan 5, 2017.