News that a vaccine in the horizon has spurred the price of crude oil, which has rallied sharply off November lows to be within reach of $44.00 USD a barrel. Hopes OPEC and its allies will delay a planned increase in oil output are also contributing to the rally, along with rising demand in Asia and a drop off to record high inventory levels. OPEC is due to discuss policy at a full ministerial meeting to be held on 30 November 30 and 1 December with outcomes around future production levels, no doubt shaping both short and medium term pricing. In the meantime, the outlook for crude for 2021 is positive as the world returns to more normal levels of demand.