 The OPEC standoff is officially over as Saudi Arabia and the United Arab Emirates have reached a deal on output levels and OPEC source stated that the UAE is allowed to boost the baseline used to determine how much crude the OPEC member is allowed to pump. OPEC talks on the proposal to lift production by accumulative 2 million barrels a day between August and December fell apart earlier this month after the UAE insisted that its baseline should be raised. The UAE's baseline would be lifted to 3.65 million barrels per day after the current pact expires in April 2022. Investors are still reacting to the news and oil futures are marginally up. Brand futures is up 0.20% currently trading at $76.67 a barrel while US oil is trading at $75.31 a barrel down 0.07%.