My

 

thoughts on "The Kingdom" are very established and pretty well known by this point. I'll ujst say it like that.

Oil Surges 8% After OPEC+ Blindsides Market With Production Cut

(Bloomberg) -- Oil surged after OPEC+ unexpectedly announced crude output cuts that threaten to tighten the market, delivering a fresh inflationary jolt to the world economy and irking the White House.

(First they didn't ramp up oil production like we wanted them to last year, 

then they crashed Credit Suisse 

and now this?

How much more they really gotta do before you understand whos side they are on?

It aint ours BTW.)

"The Organization of Petroleum Exporting Countries and allies including Russia pledged on Sunday to make cuts exceeding 1 million barrels a day starting next month, with Saudi Arabia leading the way with 500,000 barrels. Traders had expected OPEC+ to hold output steady. The shock move came outside the group’s scheduled timetable for reviewing the market and members’ supply."

)

"US gasoline futures also surged, underscoring the inflationary risks."

(You thought you couldn't get your boat in the water much last year? You haven't seen anything yet.)

"The White House said the OPEC+ decision was ill-advised, "

(Well whoopty-shit. I'm sure The Kingdom is just all in arms about what the White House thinks these days.)

"...while adding the US would work with producers and consumers with a focus on gasoline prices. Last year, President Joe Biden ordered an unprecedented release from the nation’s strategic crude reserves after Russia invasion of Ukraine."

(That option is not on going to be on the table this time around.)

"Fed’s Task

Costlier crude prices threaten to spur still-elevated inflation, complicating the task facing central banks including the Federal Reserve to tame persistent price pressures."

(Ever think that's exactly why they are doing this?

Maybe?

Perhaps?

)

I mean really, how hard is it to figure out exactly?

We're bout out of options y'all.

We really are.)

 "...higher prices may curtail some demand, as well as exacerbate the stubborn inflation that central banks are trying to combat, adding to recessionary risks, she added.'

(It's kinda the plan yo...)