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The following message was updated on 7/1/2019 4:41:07 PM.
OPEC mtg
OPEC's live streamed press conference ended at 4:15pm ET. I suspect there will be a few points that will be reported by all the main media folks ... PLUS ... there may be added insights reported a few hours or 1 day later BECAUSE ... Sec Gen Barkindo ended the Q&A session after only 4 news outlets asked their Q (Tass, CNBC, Bloomberg and Argus in that order) when Barkindo said its very late (~12 Midnight Vienna time) and he said "dinner is getting cold and a number of you (reporters) are expected to join us for dinner".
OPEC reported following:
SecGen Barkindo reappointed (to huge applause from the media)
9 month extension of the current production level
a draft text for the OPEC/NOPEC Cooperation Agreement has been agreed to by all OPEC members (Iran was in the mtg) and will be discussed with NOPEC tomorrow.
OPEC Inventory target that they want to get in balance will no longer be the last 5 year average; it will now be to attempt to bring inventories down to the 2010-2014 range. (I think this is a sleeper, and perhaps very important statement - which was communicated by Saudi Oil Minister al-Falih during his presentation at the press conference).