Oils Markets Await OPEC Agreement Outcome

Oil held declines near $46 amid scepticism over OPEC’s ability to reach an agreement to cut output and as representatives prepare to meet Monday amid last-minute negotiations over the deal the group aims to formalize Wednesday. Saudi Arabia for the first time on Sunday suggested OPEC doesn’t necessarily need to curb output and pulled out of a scheduled meeting with non-member producers, including Russia. OPEC will hold an internal meeting in Vienna Monday to resolve its differences, and as part of the final push to reach an agreement, oil ministers from Algeria and Venezuela are heading to Moscow to get the group’s biggest rival on board. WL Ross & Co Head of Energy & Natural Resources Shaia Hosseinzadeh and Jefferies International Chief European Economist David Owen discuss with Anna Edwards and Yousef Gamal El-Din on "Bloomberg Daybreak: Europe." (Source: Bloomberg)