OPEC: headed to $60/barrel - Nomura

Analysts at Nomura, in respect of the OPEC deal, explained that the final agreement is still subject to implementation risk.

Key Quotes:

"If fully implemented will help the oil market to rebalance more quickly thereby offering additional support for the price of oil in 2017.

It supports our view that the price of oil will continue to rebound gradually in the year ahead moving towards USD60/barrel during next year. However, we remain sceptical that the price of oil will rebound even more sharply given that it would encourage US shale producers to step up production thereby."