Broader risk matters outweighed any of the......>

OIL: Broader risk matters outweighed any of the goings on in Vienna on Thursday,

with the same mantra spilling into Friday's Asia-Pac session, leaving WTI &

Brent ~$0.60 below their respective settlement levels at typing. Focus reverts

to the Austrian capital Friday.

- Worth noting that OPEC really does seem to be trying to put the pressure on

Russia. Ministers convened in a Vienna hotel on Thursday, with a statement

released noting that "the Heads of Delegation of the OPEC Conference held

further consultations and decided to recommend extending the duration of the

proposed 1.5 million barrel per day additional adjustment until the end of 2020,

instead of 30th of June 2020."

- Russian Energy Minister Novak returns to Vienna today, to join the OPEC+

gathering. Previous instances have seen a late deal forged, but this really does

seem like a knife-edge situation.

- Also worth remembering that there were suggestions that the Gulf nations

(Saudi included), were considering an extra 600K cut on top of the proposed

OPEC+ deal, earlier Thursday, per WSJ sources.