June 5, 2023 | Daily JAM, Morning Briefing, Uncategorized |
U.S. oil benchmark West Texas Intermediate fell 0.57% today to $71.74 a barrel and international benchmark Brent crude lost 0.46% to $76.31 a barrel. In spite of a big cut in production announced this weekend by Saud Arabia. The voluntary cut of an extra 1 million barrels a day in July will take Saudi production to its lowest level in years.
November 15, 2018 | Daily JAM, Morning Briefing, Short Term |
This is important--if very, very speculative--if you're trying to figure out if OPEC will cut production by enough to end the oil bear market when it holds its regular meeting on December 6. Today Reuters is reporting that Saudi Arabia is extremely angry at U.S....
November 11, 2018 | Daily JAM |
... oil, now in a bear market, to rally on news that at this weekend's OPEC meeting Saudi Arabia announced that in December it will export (and produce) 500,000 fewer barrels of oil a day than in November. Expect the market response to be relatively modest, though, as...