SaudiShocker

WTI Slips Below $50 After Big Product Build Offsets Some Saudi-Shocker Gains

Oil prices soared today on the heels of Saudi’s self-sacrificial slashing of 1mm b/d output. They said this action was “pre-emptive” which, to us at least, does not seem like a positive catalyst – just how worried are they? How much did they want to suck up to Russia with a Biden admin coming in?…