After the OPEC+ meeting, oil lost almost all its recent gains. The reason for this was that OPEC+ countries did not announce production cuts as a collective policy of the cartel. It was stated that each country would individually declare its cuts since these are voluntary reductions rather than a group policy. Angola effectively opted out of adhering to the policy. On one hand, this suggests that Americans have to some extent undermined the cartel’s unity. Countries sabotaging the agreement might not comprehend that selling 5% more oil at 10% lower prices results in less revenue. This is reminiscent of our own Sechin during the oil war between Russia and Saudi Arabia. American financial houses, as previously mentioned, are bearish on oil. Any disagreements within the cartel are used for speculative attacks to drive prices down. On a positive note, key countries have agreed on voluntary cuts, even though not…

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