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Oil crash poses severe test for OPEC+ after Moscow, Riyadh miscalculate

This is a useful overview of the current state of the oil market and the prospects for production cutbacks...


  • Trump announced that he has word from Russia and Saudi Arabia that they will make large cuts in production. Maybe, maybe not -- he's made pronouncements in the past. But oil stocks predictably jumped up: Chevron up 11% today, Exxon 8.4%.

    If I were a suspicious person, I'd wonder who might have known what he would say.
    Of course, he knew.
  • "If I were a suspicious person, I'd wonder who might have known what he would say."

    I wouldn't worry about any trading on inside info. If there was any of that Jared Kushner will surely find the bad guys and take appropriate action. He's kinda at loose ends right now anyway, having finished bringing peace to the Mideast and then solving the corona virus problem. Good man, that.
  • edited April 2020
    Can someone please explain to me how oil goes up 14.5% and my FSENX drops almost 2%? How the heck am I diversifying my risk away ??? Might as well sell, take tax loss and buy USO.
  • @VF - it's the exact opposite of what happens when the cost of a gallon of gas goes up when the price of oil goes down. "It just magically makes no sense." You have to keep those rich folks richer so they can trickle down on you.
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