OPEC’s production increase is pretty underwhelming

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Bill O'Grady, Chief Market Strategist, Confluence Investment Management, joins BNN Bloomberg for his outlook on OPEC+ increasing output by 600k barrels a day in July and August. O'Grady says “600k is still a shortage, the market was fearing we were going to see a much larger increase.”

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Комментарии
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Aramco ceo was on cnbc last week saying it will take at least 2 years to ramp up supply.

scarsurfing
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"Crude oil inventories in the U.S. market down five million barrels" 3:57. The U.S. uses about twenty million barrels per day. So down five million barrels means down about six hours worth.

frankblangeard
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So it all comes down to Russia ruling the roost.

abrahamphilip
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Nigeria, Venezuela, and Iran; let’s get our oil from these places.

randolphjohnson