Saudi Arabia To Voluntarily Cut 1M BPD

OPEC+ maintains 2023 oil production target and Saudi Arabia is to voluntarily cut 1M BPD. Robert Yawger notes that he and the markets are not impressed as this cut is only for the month of July. He talks about Saudi Arabia is doing the heavy lifting for Russia, trying to keep the markets balanced, and so they are going to do the production cuts more so than Russia. He then goes over some energy movers which include crude oil (/CL), Brent Crude Oil (/BZ), and natural gas (/NG). Tune in to find out more about the stock market today.