Wednesday Afternoon, the Wall Street Journal made an exclusive, but surprising report. Apparently the Saudis are now buying up $1 billion dollar stakes in European oil companies with potential plans to buy larger stakes soon? https://www.wsj.com/articles/saudis-t…
But why? This is especially curious considering how many European Union countries and the UK treat foreign direct investment into their larger companies in the EU and the UK.
Antitrust and anti-monopoly laws (anti-competition) laws in the EU and UK are often quite strict. Especially for foreign companies other than Huawei.
Remember how companies like Microsoft, Facebook and Google have been treated in the past?
The oil market had been excited about the promise of a 10 million barrel per day oil production cut coordinated by OPEC+, Saudis, Russia and US shale oil producers. https://oilprice.com/Energy/Oil-Price…
But, negotiations appear to be very tense and the odds of this agreement being reached appear unlikely as of now. https://oilprice.com/Energy/Crude-Oil…
Also, there was another surprising large crude oil inventory build this week after a 4 year record crude oil inventor build last week. https://oilprice.com/Energy/Crude-Oil…
Wednesday’s number was also way above analyst expectations. Again, the trend should be the opposite if US shale oil producers were already cutting production meaningfully.
Saudis are also sending a lot of oil tankers to the US https://finance.yahoo.com/news/saudi-…
But, the main problem here is that oil demand is still expected to keep collapsing in the US and EU. Robert Rapier put out a new article recently about demand destruction https://oilprice.com/Energy/Energy-Ge…
Please visit the Wall St for Main St website here: http://www.wallstformainst.com/
Follow Jason Burack on Twitter @JasonEBurack
Follow Wall St for Main St on Twitter @WallStforMainSt
You can also checkout the Wall St for Main St Facebook Fanpage at http://www.facebook.com/WallStforMainSt or the Wall St for Main St Facebook Group where you can learn and join in on the conversation!
Commit to tipping us monthly for our hard work creating high level, thought provoking content that includes interviews with top experts, analysis and short videos about investing and the economy https://www.patreon.com/wallstformainst
Also, please take 5 minutes to leave us a good iTunes review here! We only have about 75 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/w…
If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website.
Donate Crypto Currency to WS4MS:
Send Bitcoin to: 1N5iDrazojYX5rWxmoyp982RDXJzJrFoPC
Send Ethereum (ETH) to: 0x748dD59fA5d5dF80E8C0038DD4F60DAb810fe61a
Send Litecoin to: MW7g44j5FX9CYEkvfPvxsW5dFjHY84yup4
Send DASH to: XuEEhWptwf1XxP2nFYQxmBfBBJYehqRoBJ
Send Zcash (ZEC) to: t1MGcxyWpiH6JeyF9nnWHw9poRpvTW4PT6S
Send Bitcoin Cash (BCH) to: qr7mp7f053rwnpxalxljl3f9x5tulzv53ya88d7wch
Wall St for Main St is also available for personalized investor education and paid research work (we write research reports and teach). Please email us to learn more about the research work we offer at: firstname.lastname@example.org
**DISCLAIMER- ANYTHING MENTIONED DURING THIS AUDIO OR SHORT VIDEO RECORDING IS FOR INFORMAT