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In November, the Organization of Petroleum Exporting Countries (OPEC) agreed to cut oil production by 1.2 million barrels per day. As a result, oil prices have raised slightly now that the cuts to supply have started to be noticed. But is it enough? In the midst of an oil glut, OPEC’s cuts haven’t truly truly taken hold just yet. But those cuts are starting to be noticed as oil has risen to over $50 a barrel. However, the U.S. has taken advantage of OPEC’s supply reduction to efficiently produce oil from shale and fracking to offset those OPEC cuts. Now, with the OPEC deal coming up for renewal, will the deal keep going? What does it mean for U.S. oil? Can oil continue to rise?
Read The Capitalist’s Take Here
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TESLA BEATS EXPECTATIONS WITH RECORD 25,000 VEHICLE DELIVERIES IN Q1; SALES UP 69%
Tesla started 2017 with its best-ever quarterly vehicle production and delivery results, in line with the guidance given to shareholders earlier this year. While that’s a positive development, it’s a drop in the bucket compared to CEO Elon Musk’s goal of quintupling Tesla production to a half million units by 2018.
The Palo Alto, California-based company built 25,418 Model S sedans and Model X crossover vehicles in the quarter that ended March 31, Tesla said in a statement. That was slightly above its previous quarterly high of 25,185 in last year’s third quarter.
Read More at Forbes Here
Read More at MarketWatch Here
Read More at CNBC Here
TRUMP SAYS U.S. WILL ACT UNILATERALLY TO TACKLE NORTH KOREA ALONE IF CHINA WON’T HELP
Donald Trump has warned that the US will take unilateral action to eliminate the nuclear threat from North Korea unless China increases pressure on the regime in Pyongyang. In an interview with the Financial Times, the US president said he would discuss the growing threat from Kim Jong Un’s nuclear programme with Xi Jinping when he hosts the Chinese president at his Florida resort this week, in their first meeting…
Read More at Financial Times
Read More at CNN Here
Read More at The Independent Here
Closing Bell
– Friday, March 31st
Markets Close Modestly DOWN to End Strong Quarter
Big Insider Trades
– Oracle Corp. (ORCL) EVP John Fowler Sells $11m
– Campbell Soup Company (CPB) Director Bennett Dorrance Buys $52.5m
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