Brent and WTI Crude have been on a slippery slope since OPEC and non-OPEC officials announced a deal to extend production cuts by another nine months. With traders perhaps expecting more and questioning whether it would be enough to offset rising production in the US, it soon became a case of how low prices would go.

In this video, Senior Market Analyst Craig Erlam discusses the cuts, explains why he believes the market may have found a temporary bottom and why data over the last 24 hours may have assisted in this.

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