Oil: OPEC output cut sees counter surprise in weak U.S. manufacturing
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/21/2026
- Wall St rises in broad rebound; yields push markets towards weekly declines
- UBS says bull market has further to run
- S&P 500 may pull back before midterms, but Citi says buy the dip
- Global yield relief evaporates as U.S. rates push back toward multi-decade peaks
- BofA's Hartnett sees dollar slump, risk selloff if bond intervention fails
- Wall Street sinks as bond yields rise, Walmart results disappoint
- Supermicro probe finds no senior management link to export violations
- Wolfe remains "broadly bullish on AI semis stocks", names Top Pick
- Hertz Global amends voting agreement with CK Amarillo after lawsuit
- SpaceX shares fall as second lockup period ends
OPEC+ production cut was aimed at speculators - Bloomberg
April 3, 2023 2:06 PM EDTBloomberg reported Monday that the surprise OPEC+ production cut was aimed at speculators betting that oil prices would fall, representing a return to a previous tactic used in 2020.
The report stated that at the time, Saudi Energy Minister Prince Abdulaziz bin Salman famously stated he wanted "the guys in the trading floors to be as jumpy as possible." Bin Salman also promised... More
