by But, but, but… growth, and inflation, and supply cuts, and growth again… Well that de-escalated quickly… As Libya restarts exports and The Fed sends the dollar soaring so WTI crude prices just broke back to a handle for the first time since Dec 8th. WTI CrudeWTI Crude - Click to enlarge “The OPEC cuts are going to prevent some of the mega-glut,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland. “But Libya coming back is not going to help the supply imbalances. It’s going to take a little longer for the OPEC cuts to work. It’s relatively clear OPEC are not going to get to 32.5 million barrels a day in January.” Tags: Business,Cartels,Crude,Economics,economy,Energy crises,Energy crisis,Energy economics,Featured,gold standard,inflation,Macroeconomics,newsletter,OPEC,Organization of Petroleum-Exporting Countries,petroleum,Petroleum industry,Petroleum politics,stagflation,Switzerland,Unemployment,US Federal Reserve,West Texas Intermediate
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| But, but, but… growth, and inflation, and supply cuts, and growth again…
Well that de-escalated quickly… As Libya restarts exports and The Fed sends the dollar soaring so WTI crude prices just broke back to a $49 handle for the first time since Dec 8th. |
WTI Crude WTI Crude - Click to enlarge |
“The OPEC cuts are going to prevent some of the mega-glut,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland. “But Libya coming back is not going to help the supply imbalances. It’s going to take a little longer for the OPEC cuts to work. It’s relatively clear OPEC are not going to get to 32.5 million barrels a day in January.”
Tags: Business,Cartels,Crude,Economics,economy,Energy crises,Energy crisis,Energy economics,Featured,gold standard,inflation,Macroeconomics,newsletter,OPEC,Organization of Petroleum-Exporting Countries,petroleum,Petroleum industry,Petroleum politics,stagflation,Switzerland,Unemployment,US Federal Reserve,West Texas Intermediate