efficentupup wrote a post · Sep 6, 2022 04:50

Oil up nearly 3% as OPEC+ agrees to small oil output cut

Oil prices rose about 3% on Monday, as OPEC+ members agreed to a small production cut of 100,000 barrels per day to bolster prices.

- Supply will be cut by 0.1 mln bpd from Oct
- Iran nuclear deal could boost oil supply
- Russia's gas supplies to Europe cut further
- Brent crude falls to $96 from $120 in June

OPEC+'s decision to implement a small production output cut is more of a political statement and symbolic message sent by the alliance, analysts said.

Yellen & G7 implementing a "cap" on Russian oil price is it working? With everything you've read, are you bullish on energy stocks?

Hope these stocks stay green this week

$Exxon Mobil (XOM.US)$

$Imperial Petroleum (IMPP.US)$

$Occidental Petroleum (OXY.US)$

$Chevron (CVX.US)$

$Indonesia Energy (INDO.US)$