OPEC+ Surprised Markets Again by increasing at their April 1st meeting, with increases of 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July. Adding to the upcoming supply, Saudi Arabia said it will unwind its voluntary 1 mbpd in…

During the month of March, the top 3 performing sectors were: livestock (+8.89%), financial indices (+4.01%), and grains (+0.63%). The bottom 3 sectors were: softs (-7.15%), interest rates (-1.51%) and currencies (-1.07%). The Federal Reserve (FOMC) met on March 16th-17th to discuss monetary policy, specifically inflation. Per the press release,…

Covid-19   Operation Warp Speed and the continued efforts under the new administration allowed the US to break the 2 million doses per day in early March, with 24% in the US receiving at least one dose. Johnson & Johnson’s one-shot vaccine was also approved; the firm expected to ship…

OPEC+ Surprised Markets by leaving production largely unchanged at their March 4th meeting, with a small increase permitted for Russia (+130,000 barrels per day (bpd)) and Kazakhstan (+20,000 bpd). This leaves 1.35 million bpd (mbpd) off the market for another month, through April.  Oil prices rocked higher to the $65…