Since OPEC’s first production agreement in 8 years at the end of September, the international oil price has rebounded by about 15% in early October, Brent crude hit a year high, the U.S. WTI crude oil also had hit 15 month highs. But in the past two weeks, as more and more members of the OPEC statement unwilling to cooperate with production, the investors in the November 30th OPEC meeting in Vienna have a pessimistic attitude.

DavidThompson Powerhouse, executive vice president, said: “although the oil price always overnight rebound, but the rebound since the end of September rose was gradually eroded. Now, take a cut unless Saudi responsibility, otherwise the fear of further dropping low prices.”

OPEC officials said Monday, members have reached a long-term strategic agreement that exports between member countries are trying to resolve disputes, increase to reach agreement to limit production. The framework agreement OPCE countries in September 28th reached unexpected output limit, in the next 9 days, Brent crude oil futures prices surged more than $8 / day. The agreement to hold a large number of short positions of hedge funds and other asset managers in the market to be caught off guard, a wave of sustained high fill.