We own some good oil and gas stocks that pay great dividends (NOT BP). The REAL economy has cooled down so the spot oil market has tapered off recently. When you want a real litmus test of the economy, look at what energy stocks are doing, HOWEVER....There are some pretty dire predictions that the supply of O&G is going to drop dramatically in the 3rd and 4th qtrs. I'm looking at load up on oil futures now (call options) somewhere in the vicinity.
Saudi Arabia will implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023
www.moenergy.gov.sa
Russia is implementing a voluntary cut of 500,000 barrels per day until the end of 2023 from the average February production level, determined in accordance with independent sources.
Правительство России
government.ru