OPEC small October cut

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

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.

Maybe first bumps do last.

In Europe, consumer sentiment is weak among consumers who are still feeling the effects of higher energy prices caused by the war in Ukraine.

Puck, weren’t you the one yesterday protesting about ‘zombie threads’? :slightly_smiling_face:

DB2

I was also the one who said that I would rethink my position.

I missed that. Anyway, great.

DB2