MBCC TH 5th June'23 - "So do you buy Oil post OPEC cut? 2 new trading ideas as we head into June!"

Basically Saudi minister’s statements are a joke, they talk about “wanting to keep price stability” but also say “we want to keep the market in suspense”. Biggest oxymoron possible. Even though China has reopened, one needs to look at ALL parts of the Oil barrel, not just China. We break each barrel down and tell you what physical market is telling you where the TRADE is! Why OPEC does not get it. They are just delaying the inevitable.

As we head into Fed FOMC, what is the trade here and what are our macro models telling us?

Risk reward 5:1?