OPEC+ Cuts Quota by 2 Mbd. CNBC Karen Reporter Accuses OPEC Of Supporting Russia. AIA 10-8-22

Actionable Intelligence Alert
09/10/2022 1h 8min

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Episode Synopsis

As most of you know the OPEC members decided on a 2 million barrel per day reduction to their production quota. This is not necessarily a cut in production because the organization members were already underproducing their quotas by 3.5 million barrels.  
Nevertheless, this is a big boost for oil prices because it represents a sentiment shift in oil markets. Of course, oil markets responded by rallying. I discuss the second-order effects in this video.

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