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Also oil has dropped from $71 on Weds to $59 now suggesting the markets are expecting a bit of a global downturn. It hasn't been that low since the covid days.
by tim333 2y ago
Also oil has dropped from $71 on Weds to $59 now suggesting the markets are expecting a bit of a global downturn. It hasn't been that low since the covid days.
- greycol 2y agoThat's more due to OPEC deciding to allow higher production quotas. Though you could argue that's because they expect a global downturn though it's not an independent view just the view of those countries.
- HDThoreaun 2y agoOPEC allows higher production quotas because they think the price will go down and they need to keep revenue constant-ish so their governments dont collapse.