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  • Saudi to extend voluntary cut of 1M b/d until end of Dec 2023

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  • Saudi Arabia to extend voluntary oil cut of one million bpd for another month

    From english.alarabiya.net

    Saudi Arabia will extend its voluntary oil cut of one million barrels per day (bpd) for another month to include September, the Saudi Press Agency (SPA) reported on Thursday, citing an official source from the Ministry of Energy. The Kingdom’s production for the month of September will hence be around 9 million barrels per day, SPA said. According to the source, the cut can be “extended, or extended and deepened.” This cut is in addition to the voluntary cut announced by the Kingdom in April, which extends until the end of December 2024, the source said. The source also reaffirmed that the additional voluntary ... (full story)

time for CAD to shine till their rate decision
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One currency that will be unable to cope with any further loss of purchasing power for energy would be JPY.

Higher energy costs virtually assures consumer demand destruction for everyone else.
Quoting foto
One currency that will be unable to cope with any further loss of purchasing power for energy would be JPY. Higher energy costs virtually assures consumer demand destruction for everyone else.
Spot on, mate. Getting screwed here for my energy costs at the moment. Sure to only get worse.
Buy oil?
One currency that will be unable to cope with any further loss of purchasing power for energy would be JPY. Higher energy costs virtually assures consumer demand destruction for everyone else.

Sure JPY will become stronger against USD
Quoting Rossidi
One currency that will be unable to cope with any further loss of purchasing power for energy would be JPY. Higher energy costs virtually assures consumer demand destruction for everyone else. Sure JPY will become stronger against USD
Been a one way trade for a very long time, shorting JPY.
Enormous amounts of funds tied up in that trade. All based upon decrees by one man who heads BOJ.
All it will take is one financial institution getting cold feet and the move in JPY will be large.
Think back to what happened with CHF when SNB pulled the plug on a weak CHF.

Weak JPY is damaging the fabric of Japanese society. Wish I could call that moment when this turns.

Everyone in that trade can not exit on the same day.
Was this news/event planned ? Cause I feel like it came out of nowhere.
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  • Posted: Sep 5, 2023 9:05am
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     Newsstand
    Category: High Impact Breaking News
    Comments: 8  /  Views: 4,651

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