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realfast95

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realfast95

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Monday, 09/05/2022 10:05:16 AM

Monday, September 05, 2022 10:05:16 AM

Post# of 953
From Fist-Bump To Fisted: Oil Surges After OPEC+ Agrees On 100Kb/d Production Cut
Monday, Sep 05, 2022 - 07:43 AM

https://www.zerohedge.com/markets/oil-surges-after-report-opec-could-cut-oil-production-100k-soon-today

And there it is: the half life of the infamous fist bump proved to be less than two months, with a delegate telling Reuters that OPEC+ has agreed to a 100kb/d reduction in oil output for October.

In the last meeting the US issued a statement thanking opec for the increase… I wonder if they will say something now :) #OOTT
— Amena Bakr (@Amena__Bakr) September 5, 2022

The small cut would reverse the 100,000 barrels a day that OPEC+ said it would add to the market last month after President Biden's trip to Saudi Arabia, the world's largest oil exporter.
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