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Market Insights Podcast (Episode 551)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discuss the OPEC+ shock cut, Tesla's record quarter of deliveries, and talk cryptos.

03-04-2023 15:19 GMT by Edward Moya

Oil surges after OPEC+ surprising output cut, gold shines

Oil surges after OPEC cuts Oil prices surged after OPEC+ surprised energy markets with a production cut announcement of more than 1 million barrels a day. This oil production cut follows the group’s 2 million bpd reduction of output made in October. OPEC was signaling that they could keep production steady but it is clear that they are not confident with the demand outlook. It is also important to appreciate the timing of the announcement. OPEC didn’t wait for Monday’s JMMC meeting, but

03-04-2023 14:11 GMT by Edward Moya