Another meaningless meeting and announcements from OPEC. Talk about capping Nigeria only after the country demonstrates 90 days of stability. Very difficult to prove/disprove and open to interpretation. Look for OPEC and Nigeria to drag out the implementation of the cap by a year or more.  Libya is off the hook and continue to produce as much as they want.  Saudi's announce their intention to further reduce  exports, however make the announcement at a time when exports typically begin to decline as  refineries start retooling for winter.  

OPEC/NOPEC can no longer influence the price of oil.  Markets and investors see through their hollow announcements, assessments and forecasts.