‘The Risk Has Risen’: When Will Oil Prices Matter For Junk?

‘The Risk Has Risen’: When Will Oil Prices Matter For Junk?

Crude took a rather precipitous dive on Friday in the wake of a veritable gut punch from Petro—Logistics, who said OPEC supply in July is expected to exceed 33 million barrels a day. That would be the highest since December 2016. That rather unfortunate (if you're a bull) development undercut what was otherwise a half-decent week that saw another batch of ostensibly bullish data (rising production notwithstanding) and more hints that the Saudis are getting serious about propping up prices.
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