Investors Remain Cautious Despite OPEC+ Cuts and Oil Production Reductions
TL;DR
The WisdomTree Brent Crude Oil ETP experienced its largest one-day outflow in over three years, with $55.7 million leaving the fund on Thursday. This may indicate that some investors remain concerned about the outlook for oil despite OPEC+ delivering an unexpected supply cut. Another fund, the ProShares Ultra Bloomberg Crude Oil ETF, also saw significant outflows of $158.5 million last week, its biggest weekly drop since March 2022.
- Investors Pull Cash From Oil Despite OPEC+ Cuts as Demand Fears Linger Bloomberg
- The Biggest Losers Of $100 Oil OilPrice.com
- The Week in Business: Cuts to Oil Production The New York Times
- Opec seeks stability via 'quake' Bangkok Post
- No inflation gain without rates hike pain BusinessLIVE
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