How OPEC+’s Surprise Cut Affects Oil Prices and Everyday Consumers — w/ Mike McGlone



Back on the Daily Dive today is Mike McGlone, a Bloomberg Intelligence senior commodity strategist. Mike sits down with us to share his insights on oil prices and the sector after OPEC+’s surprise production cut earlier this week. We also talk about where he sees commodities going, the Petroyuan, Bitcoin, and of course, gold.

00:00 Introduction
00:21 OPEC+’s surprise production cut and its impact on oil price
02:09 Geopolitical implications of the cut
03:19 How it affects everyday consumers
04:18 Commodities: are we near the bottom?
06:20 The future of the Petroyuan
07:48 Will China using the Yuan to buy oil from France impact US-France relations
08:41 Binance’s legal woes and the crypto space
10:30 How dependent is Bitcoin on Binance?
11:49 Gold price: are we breaching $2000 soon?
13:33 What do gold producers have to do?
14:56 Preferred way to get exposure to the gold market

Bloomberg Intelligence provides data-driven research from an independent perspective. The platform features interactive data and research across industries and global markets while also providing insights into company fundamentals. The firm also provides coverage across credit, equity strategy, ESG, government, fixed income, and more.

#OPEC #Oil #Petroyuan #GoldPrice

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