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OPEC+ Cuts Quota by 2 Mbd. CNBC Karen Reporter Accuses OPEC Of Supporting Russia. AIA 10-8-22

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Manage episode 343478744 series 2896442
Content provided by John Polomny. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by John Polomny or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

As most of you know the OPEC members decided on a 2 million barrel per day reduction to their production quota. This is not necessarily a cut in production because the organization members were already underproducing their quotas by 3.5 million barrels.

Nevertheless, this is a big boost for oil prices because it represents a sentiment shift in oil markets. Of course, oil markets responded by rallying. I discuss the second-order effects in this video.

  continue reading

148 episodes

Artwork
iconShare
 
Manage episode 343478744 series 2896442
Content provided by John Polomny. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by John Polomny or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

As most of you know the OPEC members decided on a 2 million barrel per day reduction to their production quota. This is not necessarily a cut in production because the organization members were already underproducing their quotas by 3.5 million barrels.

Nevertheless, this is a big boost for oil prices because it represents a sentiment shift in oil markets. Of course, oil markets responded by rallying. I discuss the second-order effects in this video.

  continue reading

148 episodes

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