OPEC+ Cuts Quota by 2 Mbd. CNBC Karen Reporter Accuses OPEC Of Supporting Russia. AIA 10-8-22
Oct 9, 2022
01:08:54
forum Ask episode
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
As most of you know the OPEC members decided on a 2 million barrel per day reduction to their production quota. This is not necessarily a cut in production because the organization members were already underproducing their quotas by 3.5 million barrels.
Nevertheless, this is a big boost for oil prices because it represents a sentiment shift in oil markets. Of course, oil markets responded by rallying. I discuss the second-order effects in this video.
Actionable Intelligence Alert