Oik spikes higher on Oil producers meeting

Crude Oil has extended gains, jumping from $29.80 up towards $30.5 as big oil producers prepare to meet in Doha, as they attempt to find some common ground to end the Oil price rout.

During the weekend, a Reuters interview with Nigerian Oil Minister Emmanuel Ibe Kachiwku revealed that growing OPEC consensus to end collapsing Oil prices now exist.

Kachiwku said, via Reuters: "The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout."