'OPEC May Need To Cut Again As Fragile Members Recover'
Portfolio Pulse from Happy Mohamed
According to Reuters, citing Citi, OPEC may need to cut production again as its fragile members recover. This could potentially impact the price of oil and related assets.
August 24, 2023 | 1:56 pm
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The United States Oil Fund (USO) could be impacted by OPEC's potential production cut as it could lead to a rise in oil prices.
OPEC's potential production cut could lead to a decrease in the supply of oil, which could in turn lead to a rise in oil prices. As USO's performance is linked to the price of oil, this could potentially have a positive impact on USO's stock price.
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IMPORTANCE 70
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