Oil Spikes After OPEC Announces It Has "Reached A Deal To Limit Oil Production"; Execution To Take Place In November

As was leaked earlier today by Reuters, which reported that OPEC could announce an output-freeze deal on Wednesday in Algeria, although full details are unlikely to be firmed up before a formal meeting of the Organization of the Petroleum Exporting Countries in November, moments ago Reuters blasted that this is precisely what OPEC has decided (citing a source so don't be surprised if everything is denied in a few minutes) at its Algiers meeting, when it announced that a deal to limit oil production has been reached, however the execution won't take place for another two months .... http://www.zerohedge.com