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OPEC shocked the world by saying oil manufacturing cuts of 1.6 million barrels per day beginning in Could.
It is a large deal for inflation.
Why?
As a result of as I’ve famous beforehand, the ONLY inflation information that had come down within the final 12 months was in power costs. And that was as a result of Biden administration dumping 250 million barrels of oil within the open market whereas OPEC was sustaining its common manufacturing charges.
See the information for your self… actually all the pieces however power costs and used automotive costs continues to rise…
However now OPEC is chopping manufacturing on the identical time that the Biden administration is ready to STOP dumping oil available on the market.
What does this imply?
Vitality costs are about to erupt larger, pushing inflation to new highs.
Oil is already again at $80 a barrel, up from $66 per barrel a couple of weeks in the past.
Gold has discovered what’s coming already. It’s rocketed from $1,600 an oz to $2,000 an oz and is about to interrupt out to new all-time highs.
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