Iran nuclear talks, Opec meeting may well roil oil markets

AS November draws to a close, there are two major events that could profoundly change the oil markets.

With the clock ticking, the five permanent members of the UN Security Council plus Germany (P5 plus one) have been negotiating down to the wire with Iran over its nuclear programme. The two sides have made substantial progress, but some difficult issues remain unresolved.

"We're very keen to try to get to a deal, but not a deal at any price," UK Foreign Secretary Philip Hammond said on Nov 17. "There will have to be very significant further movement by the Iranians if we're going to be able to get to a deal."