A rare warning strikes the gasoline market in another confirmation of economic weakness, one primary factor which forced OPEC this past weekend to extend its production restrictions. On top of those, big changes to US income estimates further corroborating the deterioration, as did a surprise drop in one of the more critical sentiment signals.

Eurodollar University's Money & Macro Analysis

Reuters Weak US gasoline demand compounds pressure on oil ahead of OPEC+ meet
https://www.reuters.com/business/energy/weak-us-gasoline-demand-compounds-pressure-oil-ahead-opec-meet-2024-05-31/

Nikkei OPEC+ extends deep oil production cuts into 2025
https://asia.nikkei.com/Business/Energy/OPEC-extends-deep-oil-production-cuts-into-2025

ISM Manufacturing May 2024
https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/may/

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This ONLY happens When Sh*t is Hitting The Fan