-
It's a big week coming up for oil, we hear again from OPEC+ from the IEA
It's a big week coming up for oil, especially on Tuesday and Wednesday (FOMC Wednesday too!): The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) will release their latest monthly oil market reports: • OPEC on Tuesday June 11. • IEA on Wednesday June 12. Last week(end), June 2, OPEC said it would extend its production cuts through September, then begin easing some of them gradually from October. Other supply cuts will extend through 2025. I posted on these a week ago. Goldman Sachs says the OPEC+ meeting outcome is bearish for oil. On the demand side, OPEC is ... (full story)