The world's largest oil exporter is preparing to raise output from December as it resigns itself to lower global prices.
Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking. The world’s largest oil exporter and seven other members of the Opec+ producer group had been due to unwind long-standing production cuts from the start of October. But a two-month delay sparked speculation over whether the group would ever be able to raise output, with the price of Brent crude, the international benchmark, briefly dropping below $70 this month to its lowest since December 2021. Source: FT >>> https://lnkd.in/eYwDvYcQ
For those who wonder why the German economy is so important for global Macro...
As shown below, their weakening economy will impact the rest of Europe. Source: Michel A.Arouet, The World in maps
Over and over and over again.
Source. Peter Mallouk
BREAKING: Super Micro Computer stock, $SMCI, has now been halted 3 TIMES and is down 13%.
This comes just minutes after the US Justice Department announced a probe into the company. $SMCI recently delayed their 10-K filing for FY2024. The company said additional time is needed "to complete assessment of its internal controls over financial reporting." Source: The Kobeissi Letter
BCA's Marko Papic (@Geo_papic) sees Chinese monetary & fiscal stimulus as a "fairly big deal": "This is Beijing’s 'Whatever It Takes' moment.
Effectively, Beijing has reached a point where the policy focus shifts from guarding against moral hazard to guarding against political risks." He bets, that we are at the start of a major rotation out of US assets. Source: HolgerZ, Bloomberg
Warren Buffett's 14 Financial Rules of Thumb:
Source: The Investing for Beginners Podcast @IFB_podcast
Hilarious. $BABA
Source: TrendSpider
Mag 7 v. 2000s tech Bubble
Source: Stocktwits
