OPEC+ surprised the world with higher production of oil to start in June. Very likely, that will increase further through the summer. Self-imposed production limits were in place to keep supply in check and maintain a consistent price level. However, OPEC+ players always cheat. The effects of this are to “punish” these cheaters.
The effects of this are melting price levels for oil. This may sound like good news, on the surface as lower prices are better for consumers. But, there are other issues at play, and eventually this will be not-so-good news.
In this video and post, I look at these fundamental questions:
What are the price expectations for oil next?
What are the economic factors of oil prices plummeting?
Which ETFs are a strategy to play energy sector?
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