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MadBrewer

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MadBrewer

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Sunday, 04/02/2023 7:13:34 PM

Sunday, April 02, 2023 7:13:34 PM

Post# of 5880
OPEC+ members announced voluntary oil output cuts with Saudi Arabia to reduce production by 500k bpd from May until year-end and Russia will also cut by 500k bpd until year-end as a precautionary measure against further market volatility.
Furthermore, Iraq is to lower output by 211k bpd, UAE will cut output by 144k bpd,
Kuwait will cut 128k bpd and Oman will reduce output by 40k bpd, according to Reuters.
It was also separately reported that more OPEC+ member states are expected to announce voluntary cuts, according to Energy Intel’s Bakr.

https://www.zerohedge.com/markets/weekend-news-round-newsquawk-asia-pac-market-open-32

Cheers


Avast ye Mateys, a statement of plunder is not upon ye,
only missing sails & lazy seamanship upon thy keel.

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