May 6, 2021

Oil prices pushed up to $65 a barrel early in the week. Most investors citing expectations of a
demand boom in the U.S. as COVID starts to clear. Some were left puzzled as surging COVID
cases in India have started to deplete the traditional energy demand. India is a strong importer
and the third-largest oil consumer, but they also sit second in new COVID Cases. Despite all of
this OPEC has said they are “bringing some production cuts back to the global market” signaling
their effort to keep prices elevated to what they see is a normal level, but OPEC sees demand
warming globally and doesn’t anticipate large production cuts. Finally, Iran could be reaching
the end of its sanctions which would provide a boost to production.


FINSUM + Magnifi: We’re bullish on traditional energy with demand surging, and OPEC’s willingness to maintain price stability only makes oil a stronger play.

Other news today: Tech Volatility to Jump as Fed Decision Looms and The Top Stock Plays in China


Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. As of May 2021, 350,000+ users with $500+ Billion in Assets Under Influence, have used Magnifi over 2,000,000 times. Try it for yourself today.


This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide brokerage or custody services.]