OPEC+ Reached An Agreement at their meeting on December 3rd to ease its output cuts next year by 500,000 barrels per day (bpd), 25% of the original 2 mbpd scheduled. Ministers will then hold monthly consultations to determine how to adjust production in subsequent months.  OPEC oil output rose to…

During the month of November, the top 3 performing sectors were: softs (15.04%), energies (13.27%), and the indices (11.46%). The bottom 3 sectors were: interest rates (0.26%), currencies (2.84%) and livestock (3.22%). As Covid-19 cases continued to rise throughout the month of October and into November, it was difficult to…

COVID-19   Europe’s Case Count Worsened dramatically through October, well surpassing the US (at least in the near term) with outbreaks particularly in the UK, France, Spain and Italy. The graph below from the EU’s CDC website was not the easiest to read but the colors tell the story (Americas…

OPEC+ Maintained Production Cuts but Saudi Arabia and Russia have put further cuts in 2021 on the table at the next meeting on November 30th/ December 1st. Why?  Supply and demand.  Supply up by at least +800,000 barrels per day (bpd) as Libya went from 250,000 bpd at the end…