OPEC+ To Cut Crude Prodution Quota In October 06/09/22

The Opec+ coalition has agreed to cut its October crude production target by 100,000 b/d, marking a return to August quotas.   The proposal to cut was endorsed earlier today by the group’s Joint Ministerial Monitoring Committee (JMMC). The decision comes against a backdrop of global recessionary fears and internal group discontent over a perceived disconnect between …

A Room with a Technical View 05/09/22

Capesize October Futures – The futures roll has resulted in the technical producing an upside gap due to the carry against the September futures. We have seen a couple of bullish days following the roll, resulting in price trading into the Fibonacci resistance zone; however, the upside move has failed to trade above the USD …