With Friends Like Brazil, OPEC+ Doesn’t Need Enemies
Bloomberg reports that it’s clear that a boom is following the bust, and the timing couldn’t be worse for the Saudi-led oil cartel.
The Brazilian coffee and oil industries have something in common. Espresso connoisseurs know the country’s coffee production follows a natural biennial cycle, alternating periods of low and high output. One year, the trees funnel most of their energy into growing new branches; another, into producing fruit. The country’s oil industry also appears to follow similar cyclicality, even if arbitrarily. Disappointing... ...
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