The oil market is feeling the effects of the OPEC deal of 30 November. Higher oil prices will translate into higher LNG import prices for the majority of LNG consumers. Currently, around 80% of LNG supply is sold on contracts that price LNG as a function of oil. But indexation varies widely. For every US$1/bbl increase Brent, expect a US$0.07- $0.15/mmbtu increase in oil-indexed LNG contract prices.