Oil decline persists; Saudi Arabia, Russia cut production.

Sharing is Caring!

Oil continues to decline

Aramco CEO Amin Nasser went on TV to explain that demand should be coming back soon

Meanwhile, Saudi Arabia and Russia agreed to extend their production cut of 1 million barrels a day on Monday

OPEC is really making an effort to push up the price of… pic.twitter.com/JtDj1MIL0r

— Genevieve Roch-Decter, CFA (@GRDecter) July 5, 2023

See also China Is Now 39% Of Global Auto Production; Dominating Europe, Japan, U.S.

See also Philly Fed reveals Q2 state employment decline, contradicting Biden administration's inflated claims. Ed Dowd: "This is a leading indicator that something went horribly wrong at the BLS."