I am definitely already dreaming of a white Christmas in Wyoming.

As December is upon us tomorrow, I have started listening to holiday music and making my Christmas wish list for Santa – as I read the news this morning, it looks like one of the items on my list is coming to fruition.

Oil prices are up, way up, this morning. The markets are posting large percentage increases – I hope this is truly reflective of a rebalancing in the markets.

As I write this article, WTI Crude Oil is up over 7.76% to $48.74 per barrel and Brent Crude is up 7.78% to $49.99 per barrel, according to Bloomberg Energy.

The headlines this morning reflect the cause of the increase in prices – OPEC will reduce production output by more than 1 million barrels per day:

Many people are skeptical of whether this will actually have lasting, positive impacts that are more stable than the volatility we have had in recent years. This reportedly comes from unknown details in the deal's mechanics – how long the deal will last and how it will be enforced.

Meanwhile, its beginning to look a lot like Christmas and I am hoping for snow. Let it snow, let it snow, let it snow!

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