Something for your Espresso: A middle finger from OPEC to Biden
Is the massive OPEC+ cut bullish for oil? Or will the price action resemble former supply cuts? Empirical data suggests that it is not bullish oil, but a recession is needed to bring oil lower now.
![Something for your espresso](https://stenoresearch.com/wp-content/uploads/2023/01/Something-for-your-espresso.png)
Is the massive OPEC+ cut bullish for oil? Or will the price action resemble former supply cuts? Empirical data suggests that it is not bullish oil, but a recession is needed to bring oil lower now.
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