OPEC decision impacts 2017 stockpiles, while Trump appoints ExxonMobil CEO to Cabinet.

1. OPEC Deal to Create Oil-Supply Deficit Next Half, IEA Says

Oil stockpiles will decline by about 600,000 barrels a day in the next six months as curbs by OPEC and its partners take effect, said the agency, which had previously assumed inventories wouldn’t drop until the end of 2017. (Bloomberg)

2. Trump Picks ExxonMobil CEO Rex Tillerson to Be Secretary of State

Since Tillerson’s name emerged as a candidate for the post, leading Republicans have expressed reservations about his years of work in Russia and the Middle East on behalf of the multinational petroleum company. (Washington Post)

3. Long-Term Bullish Reversal Pattern Confirmed For Oil: Projection $77

The last big market event of the year will be Wednesday, when the Fed decides on rates. (Forbes)