Read on Seeking Alpha today with VET in the headline...

"WTI tops $80 -  Opec, Kazakhstan, GS Energy conference

West Texas oil prices (NYSEARCA;USO) (CL1:COM) topped $80 this morning, rallying almost 3% as a confluence of supply factors pull the commodity higher.

Top of mind is a survey released this morning pointing towards another production miss by OPEC, as the Member States delivered only70Kb/d of production growth in December, well below the budgeted 253kb/d, raising questions around the Cartel's ability to deliver on promises for production growth in January, February and beyond