Quotes from the news wire:
There is bound to be a huge amount of pressure on the Saudis from one or two people at that meeting to look at this policy again, i can not believe they will want to change their strategy at this moment in time, but you can't rule it out totally... I never like to pre-judge an OPEC meeting. You do that at your peril.
Will we get 1.7 million barrels a day in 2016? No. I don't think so and that's one of my worries. If we did get 1.7 million bpd in 2016, then we could easily get to $60, but I don't think we will, can I see a big run next year? No. If we are above $60 by the end of 2016 I will be a little bit surprised.
Can the market make room for (Iran)? Probably yes, but I'm not sure the market can make room for that and a doubling or tripling of Libyan production, which is my other big worry, the Libyans could easily get back 300,000 or 400,000 bpd. If you have 500,000 from Iran and 400,000 from Libya and you lose 1 million barrels from the Americans, you're back to where you started, which is why I don't see the market moving hugely.