THE

Opec meeting is always a draw for oil market enthusiasts and this week’s is no exception, especially after the recent heavy dip in oil prices.

Brent crude has crashed from above $85 a barrel at the start of October to just $58.

The meeting, on Thursday and Friday in Vienna, is expected to result in a much-needed cut in output from the top oil producer Saudi Arabia and its allies.

UBS predicts a cut of at least one million barrels per day which, it says, ‘should enable oil prices to stabilise and recover firmly in 2019’.

Shareholders of the likes of BP and Shell will certainly hope so.