Nigerian OilMin: Wouldn't expect oil to drop more than $1-2 if no deal is made

Nigerian oil minister is now crossing the wires, via BBG TV, stating that he believes an output cut deal will be reached today at the OPEC meeting.

Key Headlines:

I am optimistic

I think a solution will come

OPEC largely convergent on need for oil output cut

Pressure on everyone to reach deal

Mid $50s per barrel is a healthy price for Nigeria

Wouldn't expect oil to drop more than $1-2 if no deal is made