What OPEC's Surprise Oil Production Cuts Have to Do With De-Dollarization

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 4 April 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

A reduction in oil output of 1.65 million barrels per day was announced by OPEC+ members on Sunday night. In the face of a global economic slowdown, analysts are debating whether the cartel is acting politically or merely anticipating softer demand. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: by CoinDesk.

Transcript

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0:00.0	In the wake of one of the most tumultuous years in crypto history, the conversations happening
0:06.4	at Consensus 2023 have never been more timely and important. This April, CoinDisc is bringing
0:11.6	together all sides of the crypto, blockchain, and Web3 community to find solutions to crypto's
0:16.0	thornyest challenges and finally deliver on the technology's transformative potential. Join developers, investors, founders, brands, policymakers, and more in Austin, Texas, and finally deliver on the technology's transformative potential. Join developers, investors, founders, brands, policy makers, and more in Austin, Texas,
0:25.1	April 26th to 28th for Consensus 20203.
0:28.1	Listeners of the breakdown can take 15% off registration with code breakdown.
0:32.6	Register now at consensus.com and join CoinDestk at Consensus 2023.
0:44.8	Welcome back to The Breakdown with me, NLW.
0:49.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:54.9	The breakdown is produced and distributed by CoinDes.
0:59.8	What's going on, guys? It is Monday, April 3rd, and today we are talking about OPEC surprise oil
1:06.0	production cuts, what they mean for not only oil markets, but global geopolitics, and how they are shaping
1:12.7	the de-dollarization conversation. A quick note before we dive in, there are two ways to listen to
1:17.8	the breakdown. You can hear us on the Coin Desk podcast network feed, which comes out every afternoon
1:22.0	and features other great Coin desk shows, or you can listen on the breakdown-only feed,
1:25.9	which comes out a few hours later in the evening. Wherever you're listening, if you're enjoying the show, I would so appreciate it if you
1:31.5	would take the time to leave a rating or a review, it makes a huge difference. All right, guys,
1:37.1	welcome back to the breakdown. Recently, when we've been talking about the macro, it's been
1:42.8	pretty focused on monetary policy
1:45.0	in the United States. However, there are forces out there that have a huge impact on the shape
1:50.8	and texture of the global economy that have nothing to do really with Jerome Powell. And what's
1:55.9	more, those forces aren't just about economic actions, but about political actions.
	...

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