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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (131547)	8/23/2022 1:53:04 PM
From: Goose94	Read Replies (1) of 202736

Crude Oil: Bullish OPEC+ Rhetoric Sends Prices Soaring When many started doubting the necessity and viability of OPEC+, the oft-mooted Iranian nuclear deal seems to have given the oil group a new meaning and a new direction. Almost in unison, participant countries and respective top officials have started talking of concerted production cuts should the EU-brokered Iran deal take place anytime soon. Oil prices took notice immediately, recording hefty increases both Monday and Tuesday, with ICE Brent currently trending around the $100 per barrel mark. In effect, nothing has happened yet, but we are already near triple-digit territory. OPEC+ Starts Talking About Production Cuts Saudi Energy Minister Prince Abdulaziz bin Salman stated that amidst a possible revival of the Iranian nuclear deal and a growing disconnect between paper and physical markets OPEC+ will consider cutting production at any time and in different forms. Oilprice.com

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