Oil prices rallied on Tuesday, extending gains from the previous session, with WTI futures jumping more than 3% above $85.00 per barrel, supported by risk-on mood on Wall Street and a softer U.S. dollar. However, the main bullish catalyst has been the news that the Organization of Petroleum Exporting Countries and its allies (OPEC+), who will meet in Vienna on Wednesday to decide on production policy, will deliver a substantial supply cut to stabilize the market, even if physical fundamentals remain extremely tight. There have been several leaks, but the most credible reports suggest that OPEC+ could slash production ... (full story)