Hello fellow rebel capitals hope you're well big news out of Saudi Arabia and Russia.

They're actually cutting production of oil once again.

Let's go to this article from

C and try to figure out what exactly this means

about the global economy.

There's much more to this story than just the price of oil.

So let's get right over to see and check it out.

The headline, oil settles up on expectations of US crude draws and tight supplies.

So the tight supply that they're referencing

are the assumption that we will have tighter supply

in the future due to these production cuts that were just announced by Saudi Arabia and Russia.

So let's just go to this first paragraph.

Yeah, oil prices settle higher Wednesday reversing earlier declines as traders anticipate further draws on U.S. crude oil inventory,

following extended production cuts in Saudi Arabia and Russia.

So futures were up $90, 60 cents a barrel,

while W.T.I futures up $85.87.54,

both benchmarks rose by $1, then paired gains.

Okay, so, well, actually, let's hear what Bob Yager has to say.

He is director of Energy Futures also at Mizujo.

Says we have pretty low crude supplies in the US with several weeks of big crude oil draws

pushing prices up, right? But let's think about this here for a moment. Let's take a step back and ask,

why is Saudi Arabia and Russia cutting production with oil at

...