Christmas Sales – Everyone’s cutting everything

Overheard over a beer with Johnny K

“OPEC’s going to cut production by 2.2 million barrels a day starting next month, and what does the price of crude do, it falls again! This is just further proof that even if you own the soccer ball, if no one wants to play soccer you always end up playing with yourself. That OPEC President Chakib Khelil said “If you are not surprised, then we have to do something about it.” Given that this brings recent OPEC cuts to 4.2 million barrels a day which hasn’t surprised anyone except OPEC, quite what they intend to do is not clear, perhaps bailing out the U.S. auto industry might help. Now that would be a surprise! I see the Federal Reserve got into the

This is only an excerpt of Christmas Sales – Everyone’s cutting everything

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.