OPEC oil After yesterday’s accord between Saudi Arabia and Russia ignited an effervescent oil rally, we have now seen these hopes fizzle out once more. As the ‘task force’ agreement references no crimping of production levels, prices are now heading lower from Friday’s close. Hark, here are five things to consider in energy markets today: 1) While we are seemingly on a perpetual treadmill of production freeze talk, it is refreshing to hear that new OPEC member Indonesia is comfortable with crude prices between $40 – $50 . Its economy remains in fairly rude health, with the IMF projecting its economy will grow at just shy of 5 percent this year, and just above that next year. It is the only cartel member in Asia-Pacific, exporting $6.4 billion of petroleum last year, and is the largest economy in South East Asia. The leading recipients of its oil this year […]