What a difference a few days can make for oil.
Coming into this week, oil was drifting down, on doubts about the rumored OPEC oil deal. Then, on Wednesday, several OPEC oil ministers announced that they’d agreed to cap production.
Almost instantly, U.S. oil prices shot up 6%.
But come Thursday, the enthusiasm had waned, as traders really looked into OPEC’s oil deal… and didn’t like what they saw.
Now, as with any supposed deal between countries that are at each other’s throats, the devil will be in the details. That’s certainly the case here.
But analysts saying OPEC’s announcement was a complete failure are wide off the mark.
So today, I’m going to walk you through the details of this plan…