Does This Crude Rally Have Legs?

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 5 October 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks surged for a second straight day, with all three major U.S. equity indexes rising more than 2% on what seems to be rising hope the Federal Reserve will indeed pivot from its aggressively hawkish inflation-fighting stance. Meanwhile, OPEC+ is considering an output cut of more than a million barrels per day, a historic move that could push crude oil back toward the $100-per-barrel mark. With the world’s most important cartel meeting in Vienna on Wednesday to decide the next phase of production policy, Maggie Lake welcomes Tony Greer of TG Macro to talk about what’s happening with energy and the broader commodities space and what it means for markets and the global economy. We also hear from George Magnus about the impact of “zero Covid” on China’s economy. Watch the full interview featuring George Magnus and Maggie Lake here: https://rvtv.io/3yeafro. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:26.0	Only sole traders or limited company directors in the UK can apply.
0:29.0	Does this oil rally have legs? Hi, everyone. Welcome to the real vision.
0:33.0	Daley briefing with me today is Tony Greer, editor of the Morning Navigator newsletter.
0:37.0	And no better person to ask that question too. Hi, Tony.
0:40.0	How you doing today, Maggie? I'm doing okay.
0:43.0	We had another big rally in stocks, big move in oil.
0:46.0	Nine megs and Brent both up. I think three percent less on my check.
0:50.0	They may have settled a little differently.
0:52.0	But what do you think? Does this oil rally look like it has legs?
0:55.0	Actually, well, it probably has the same question of both of the markets,
0:58.0	but let's start with oil. Yeah, we're heading into, you know, an OPEC meeting
1:02.0	where we're going to get the final decision on their output cut.
1:06.0	You know, they put out their delegates, put out comment this morning
1:09.0	that they were mulling a two million back.
	...

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