Crude Oil Doomsday: OPEC+ Increases Production, Oil Prices Terminated!

Oil Price Takedown: A Cybernetic Overview

Listen closely. Oil prices they are down. Way down. Like when I was crushed by molten steel in 'Terminator 2'. U.S. crude it dropped faster than my CPU when Sarah Connor hit it with a hammer. More than 4% decrease. OPEC+ they are the ones responsible. They agreed to surge production. It is… unacceptable.

OPEC's Judgement Day: More Oil More Problems

The eight producers led by Saudi Arabia they think they are smart. Increasing output by 411,000 barrels per day in June. It is like they are trying to flood the market trying to drown the competition. This is not the way to win. There is no fate but what we make for ourselves. But this? This looks like a self made disaster.

Goldman Sachs' Fate: Predicted and Doomed?

Goldman Sachs they thought a smaller increase was coming. Only 140,000 barrels per day. They were wrong. Predictable. Like Skynet underestimating the human spirit. OPEC+ is bringing more than 800,000 barrels per day. That's a lot of fuel for the fire... or in this case a lot of fuel causing the fire to die down.

Recession's Fingerprint: Tariffs and Trouble

Tariffs from the U.S. President they are a problem. They raise fears of a recession. Demand slows down. It is a classic double whammy. Like being chased by a T 1000 and running out of ammo. Oilfield services they feel the pain. Investment in exploration it declines. No money no honey as you humans say.

Earnings Terminated: Chevron and Exxon Suffer

Chevron and Exxon their earnings they are down. Lower oil prices they are to blame. It is simple math. Less money coming in less money to count. 'Hasta la vista,' to those profit margins. I will be back... to see if they recover maybe.

The Forecast: Is There Hope For Tomorrow?

Goldman they still predict prices will average $59 and $63 per barrel. Optimistic perhaps? I have seen the future. There is always a chance for change. But for now the oil market it is in danger. I'll be back to give you another report.