After over two years OPEC has finally done the economically and indeed politically rational thing. Sentiment was supportive of a deal for most of the period since the initial Algerian meeting when such a cut was proposed. However, from last weekend the language from the main participants was reminiscent of the exchanges before previous failed gatherings. While OPEC members previously behaved like football teams more interested in physically hurting their opposition (taking share), they are now focused on winning the game (growing revenues). The outcome of yesterday's meeting was more comprehensive that even hopeful bulls could have expected, although severe action was required after the previous damaging strategy. A maximum cut, country specific quotas, independent monitoring, and potential non-OPEC (mainly Russian) involvement on top, is huge.