“We as Iran, and I hear Iraq and Venezuela, are against any increase in OPEC production.”
“Loud and clear”.
Or at least “loud.”
I mean, I guess you never know.
“Stated differently, the Orange Comb-Over is definitely not making America Great Again.”
If you do the math there, that means that in the space of just two years, there was a ~$400 billion decline in reserve accumulation from oil exporters. That’s “QT” – depending of course on what they’re accumulating.
This was just the kind of day that makes you dread the rest of the week.
“…one very good reason to deepen its ongoing cooperation with OPEC.”
Plenty to fret about (and laugh at).
After all, the market’s muted response to geopolitical turmoil in 2016 and 2017 was in large part down to the central bank put, which is now in question. And it goes without saying that the low vol. regime seems to have come to an end over the past couple of months.
And hey, who better than the Saudis, right?
In terms of news flow on Tuesday, everything took a backseat to Facebook and the worsening Cambridge Analytica scandal, which is spiraling rapidly out of control.
“We will continue to strike at every attempt to strike at us. This has been our policy and it will remain our policy.”
“There is selling pressure and profit-taking across the board.”
That right there is the biggest gain since November of 2014.
“Free at last, Free at last, Thank God almighty I am free at last!”