Crude Oil Update

Oil rose back above $60.00 level, albeit breifly, following comments from OPEC President Edmund Daukoru saying that he is hopeful of a concensus with cartel of the 1.0mln bpd cut by Monday.
It seems that OPEC hasn't reached a concensus decision to cut output as yet, which seems to have been priced in, and indications so far from Saudi Arabia is that there is no plans to cut supplies to prop up prices.
The risk is on the markets attempting to push crude oil prices lower in coming sessions to test the OPEC's resolve.