OPEC+ Reduced Their Production Cut to 7.7 million barrels per day (mbpd) from 9.7 mbpd starting in August, an implied increase of 2 mbpd at the July 15th Per a Reuters survey, compliance was effectively 100%.   Certain members such as Iraq were to not fully increase production to make up…

During the month of August, the top 3 performing sectors were: energies (15.13%), softs (12.98%) and the indices (8.81%). The bottom 3 sectors were: interest rates (-0.82%), the Barclays CTA Index (0.12%) and livestock (0.56%). Financial markets continued in trend – the S&P blew past all time highs gaining over…

COVID-19   The COVID Toll on Q2 GDP for the US came in -9.5% for the quarter – not good but better than the economists’ estimates which were closer to -10%. That’s the steepest annualized decline in quarterly records dating back to 1947.  Personal spending, which makes up about two-thirds…

OPEC+ Reduced Their Production Cut to 7.7 million barrels per day (mbpd) from 9.7 mbpd starting in August, an implied increase of 2 mbpd at the July 15th Certain members such as Iraq were to not fully increase production to make up for over-producing last and this year, while other…