Uncertainty over whether Opec would cut oil production last week amounted to “Festivus to forget”, Wells Fargo Securities analyst Michael Webber wrote ahead of the cartel’s meeting.
Webber’s reference to Festivus harked back to an episode of US sitcom Seinfeld, in which viewers learn the character George Costanza’s father, Frank, celebrated on 23 December, rather than Christmas Day.
“When George was growing up, his father hated all the commercial and religious aspects of Christmas, so he made up his own holiday,” lead character Jerry Seinfeld explains.
