Daily Kickstart (Oil Gets “Crude” Awakening, RBI Shocks Markets)

Daily Kickstart (Oil Gets “Crude” Awakening, RBI Shocks Markets)

We start this morning not with FX but with crude. By now it's no secret that oil is stuck between OPEC/non-OPEC production cuts on the bullish side and rising US production/stockpiles on the bearish side. To be sure, this was easy to see coming. The same wide open capital markets that helped US producers plug funding gaps (i.e. cover their outspend) helped otherwise insolvent companies stay in business - zombie style - until such a time as prices rose above ~$50/bbl. Now, OPEC production cuts
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