OPEC small October cut

Investment Analysis Clubs Macro Economic Trends and Risks
1

Fist bumps don’t last long.

Oil Prices Climb as OPEC Agrees Small Output Cut
www.barrons.com/articles/oil-prices-climb-opec-51662374704
Oil rose on Monday as members of the Organization of Petroleum Exporting Countries announced a small output cut. OPEC and allies including Russia said they will reduce output by 100,000 barrels a day in October. Prices have been falling as exports from Russia kept flowing despite the war in Ukraine. At the same time, spikes in natural gas prices as a result of the conflict are threatening to throw the world economy into recession, reducing oil demand.

DB2

2

Oil rose in global trading…well of course because in the UK NG went up by 30% overnight.

The OPEC cut might not offset the global slow down.