Oil: OPEC output freeze still awaited - BBH

Research Team at BBH, suggests that the economic and monetary policy divergence may overwhelm the speculation that OPEC could agree to a freeze in output as early as next month. 

Key Quotes

“One key hurdle has been the Iranian need to boost output back to pre-embargo levels.  The latest reports suggest it is close, but still a little shy of its four mln barrel per day target.   Also, it makes sense, assuming rational actors, that ahead of a possible freeze, output increase, so the freeze at a more advantageous level. Meanwhile, US output is still slipping and imports rising.  A rising US dollar may help spur a correction to the nearly 24% rally off the early-August lows.”