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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (125573)	5/3/2022 12:39:56 PM
From: Goose94	Read Replies (1) \| Respond to of 203382

Crude Oil: Range Bound As Markets Wait For Major Catalysts Whilst OPEC+ is widely expected to agree to another monthly increase of 432,000 b/d, the widening gap between the oil group’s stated objectives and reality is becoming too glaring to ignore. For March, the last month for which official OPEC+ data is available, the discrepancy added up to 1.45 million b/d and is set to only increase in April as Russia’s production went downhill. Africa has been a source of headache of its own, with Libya’s key infrastructure blockade trimming some 550,000 b/d from global supply, whilst Nigeria and Angola continue to slide lowed amidst force majeures and terminal declines. The IEA’s release of 240 million barrels over the next months and China’s demand falling by as much as 1 million b/d on the heels of its COVID lockdowns have both mitigated demand-side issues, however should demand bounce back in the summer, tightness could be worsening again. Oilprice.com