MBCC TH 1st June'23 - "All eyes on Fed Powell June FOMC and OPEC meeting, what will Saudi do?"

Well for one thing OPEC has banned some journalists like WSJ, Bloomberg, and maybe even Reuters to attend this meeting. Interesting as it is the first time in 23 years, we know this meeting will be extremely contentious as OPEC promised to cut production by 1.1 mbpd with 500k bpd coming from Russia. Russia has done absolutely nothing and Saudi is the only one paying for the group cuts.

This means they are losing market share, what will they do? How will they handle this?

What does this mean for Oil and your portfolio? We also discuss the Fed into FOMC meeting in June, what can go wrong? How are most positioned? What is the trade here?