OPEC is back again, with an extension of its November 2016 accord that – subject to review – will extend its existing production quotas through 2018. The oil market responded by pushing oil prices up quickly and sharply to near $60 at year end.
https://www.forbes.com/sites/uhenergy/2018/01/03/another-opec-promise-fool-me-twice-shame-on-me/