Loading ...In June Oil was $120/bbl, and USD Index was 101. Now USD is 112. It knocked Oil down for a while, to $77 but that hurt the Oil exporting countries. Oil is coming back strong anyway up to $92 today like 20% higher since the Oct 1st. Because of a production cut, possibly false and misleading statement. Maybe the cut was needed, because nobody needs so much as the economies slow down.
I don’t trust these bozos. I have a sneaky feeling TPTB behind the scenes, really want Oil higher because we are in a global welfare economy. That is failing. Higher Oil is welfare for other countries that sell oil. They need the money to live on. Has anybody noticed that? Shutting down our oil and allowing Venezuela to produce and sell?
And they use the news to tell Saudi Arabia is cutting production, to psychologically raise the price. This is a bunch of crap. Do not believe anything they say, just reverse it. They want a higher Dollar AND higher Oil.
Check out Diesel: https://finviz.com/futures_charts.ashx?t=ENERGY&p=d1
I heard if Oil gets too low it will cause some big bankruptcies.