DUBAI, April 2 (Reuters) - Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable.
https://www.reuters.com/business/energy/sarabia-other-opec-producers-announce-voluntary-oil-output-cuts-2023-04-02/
The Wests need for widespread EV uptake just got sped up significantly if they want to avoid inflation now skyrocketing near term from the jump in oil price that is about to happen. I’d say it’s now a lot more likely we see the U.S. government providing JRV a grant towards ICO in the short term. They aren’t going to want to see critical minerals like Cobalt sitting idle after this upset.
Seems like the perfect storm for battery metal demand.
DUBAI, April 2 (Reuters) - Saudi Arabia and other OPEC+ oil...
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