A few petro-notes this morning, via Ben:

 Oil prices are holding gains after the surprise OPEC+ decision to cut production.

 Goldman Sachs analysts, in a note, summarize why the OPEC+ decision to curb output by nearly 1.2 million barrels per day caught many off guard.

• “The cut was unusual because it came against a backdrop of robust physical fundamentals, a relatively elevated oil price to cut OPEC production, and without any prior rumors or leaks hinting at a cut.”

 Yesterday we reported higher prices are unlikely to speed U.S. shale growth, and now Bloomberg notes one consequence: an even bigger cash bonanza for U.S. producers.

• “OPEC and shale are much more on the same team now, with supply discipline on both sides,” Joseph Sykora of Aptus Capital Advisors tells Bloomberg.