Deep OPEC Output Cuts Upend Biden’s Attempt Lower Oil PricesI was in Detroit all day and missed out on a money-making day by the looks of the spread in SP. What a shocker that Oil sold off, OPEC will have a hard time keeping Oil up with everything that is working against it. So much for $90 Oil but we always seem to gravitate towards $85 so we can use that as the average anytime Oil is at $84 or lower might be a good time to buy shares. We have ISM Manufacturing PMI and JOLT's Job Openings tomorrow at 10 am but it's Wed that we might see Oil under $85 when the FED releases Interest Rate Decision at 2 pm and FED Press Conference at 2:30 pm. Hopefully, by Friday after trading Oil under OPEC cuts and the FED has come and gone, we might have a better idea of where Oil will be trading. Then, all we'll have to deal with is a recession and poor economic data being released every day, constantly putting downward pressure on Oil. I'll be trading tomorrow.
Deep OPEC Output Cuts Upend Biden’s Attempt To Lower Oil Prices | OilPrice.com