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  • Saudi Arabia to cut output unilaterally by extra 1 MBD for June

Added at 8:02am

Added at 8:06am

Added at 8:06am

Yikes for bears
When everybody cut 10 M price fell, and fell hard. Now they cut 1 (!!!) more and price goes up like mad. Like that 1 extra M is going to make any difference. But it isnīt rigged they say...
To me it screams.... "we can't do anything more now".

Naturally the headline reading algos don't ask questions... they just give the rest of us better entry prices.
Quoting Mendocito
When everybody cut 10 M price fell, and fell hard. Now they cut 1 (!!!) more and price goes up like mad. Like that 1 extra M is going to make any difference. But it isnīt rigged they say...
This will be a short lived pump. They fumbled the ball and now want to recover. A little too late for that nonsense plus demand just isn't where it needs to be to use up all this oil. So this won't do shit truly to be honest.
The markets are like water it ebbs and flows.
Lol the Trump effect
Quoting Momofrmnyc
{quote} This will be a short lived pump. They fumbled the ball and now want to recover. A little too late for that nonsense plus demand just isn't where it needs to be to use up all this oil. So this won't do shit truly to be honest.
Yes, i also believe that. If they imagined the shitload of trouble they would get into when they decided to cut prices and flood the markets with cheap oil!!! If regrets would pay taxes they could pay the entire world debt... ))
...built on sand..
The future(s) is mine!Risiko birgt immer auch die Chance.
Quoting Mendocito
{quote} Yes, i also believe that. If they imagined the shitload of trouble they would get into when they decided to cut prices and flood the markets with cheap oil!!! If regrets would pay taxes they could pay the entire world debt... ))
What's even funnier mate is that it comes out the day after Saudi Arabia said they were going to rebalance their budget due to lower oil prices. That playing tough guy role doesn't bode well for SA at all.
The markets are like water it ebbs and flows.
please stop.. The oil market doesn't make much sense anymore.
Quoting andinurhasan
please stop.. The oil market doesn't make much sense anymore.
Totally disagree.
trump phone call
I thought TRUMP want USD to weaken more... if Oil up == USD up too
Saudis blinked first. They are toast.
Price comes first; fundamentals come second
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  • Posted: May 11, 2020 8:01am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 13  /  Views: 8,274