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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (134410)	9/30/2022 12:02:15 PM
From: Goose94	Read Replies (1) of 202448

Crude Oil: The Next Big Catalyst For Prices It is not unusual to see oil prices spike in late September as hurricanes ravage the US Gulf of Mexico, yet, despite the horrendous damage done to Florida and other south-eastern states, Hurricane Ian has failed to become a notable factor for crude. And whilst some pricing upside came from US stock draws, a new batch of Iranian sanctions, and marginal weakening of the US dollar, the next big catalyst for oil prices will be the OPEC+ meeting taking place on October 5th. With production cuts being discussed as a means of maintaining palatable prices, an upward run towards $100 per barrel might be on the cards for ICE Brent. OPEC+ Seems to Be Serious About Cuts According to OPEC+ sources, members of the oil group have started talks about potential oil production cuts in November 2022 as Russia has already suggested a 1 million b/d target reduction for the October 5th meeting. Oilprice.com

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