Walker Crips' Market Commentary

OPEC+ cuts oil production by 1.65 million barrels per day


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The Easter bank holiday saw many people enjoy a longer weekend as markets were on hold for a couple of days. Nonetheless, news was still plentiful as global markets continued to move in multiple different directions. One of the key news stories was that Saudi Arabia made a surprise decision to cut oil production by 500,000 barrels a day, alongside other OPEC+ nations joining them to result in a total production cut of 1.65 million barrels a day until the end of 2023. This saw the oil price surge by approximately 6% last week and it will be interesting to see what impact this will have on the price of oil for the remainder of the year...


Stocks featured:

Alphabet Inc (Google), AstraZeneca, Entain and RS Group



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Walker Crips' Market CommentaryBy Walker Crips Investment Management Limited

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