Goldman Says “Not In OPEC’s Interest” To Extend Cuts; IEA Thinks Maybe You Need To Be More “Patient”

Goldman Says “Not In OPEC’s Interest” To Extend Cuts; IEA Thinks Maybe You Need To Be More “Patient”

Yesterday was a fun day for crude. As documented here extensively, oil initially plunged on reports that Riyadh raised output to over 10m b/d in February, reversing 1/3 of the cuts made in January.  Oil promptly plunged. Apparently surprised at just how closely the market still listens to the kingdom, Riyadh pulled a “just kidding,” and tried to play the whole thing off. Here was the result: As if that wasn’t enough “crude” excitement for one day, we got the latest API num
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