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Economic Impact


OPEC+ Alterations Amidst Additional Oversupply

By: Ryan Wolfe / Posted on: November 10, 2020

For the 2021 calendar year, there will be 5.8 million barrels per day crude production cuts. These cuts are an effort to balance the current oversupply due to COVID-19 with an estimated demand forecast for the year.

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Shot Heard Round the World...Vaccine Update

By: Adam Dunlap / Posted on: November 9, 2020

News of the Pfizer vaccine is spreading like wildfire around the world today. Covid-19 has killed more than 1.2 million people the world over. Today, Pfizer announced a vaccine that has a 90% effective rate with no serious safety concerns. If these numbers are to hold true, Pfizer’s new vaccine would hold up to the childhood disease vaccines like measles. Additionally, Pfizer says it expects to have 15 to 20 million vaccines ready in the US by year’s end provided the FDA issue emergency authorization later this month. They also predict to have over 100 million doses ready worldwide.[1]

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Another Housing Market Crisis Ahead

By: Adam Dunlap / Posted on: July 6, 2020

Covid-19 is still having a lasting impact, gripping the US economy some 5 months after it reared its ugly head. This time it is targeting the US housing market. With 44 million Americans still unemployed, many unable to pay rent and utilities, and temporary eviction bans set to lift, the US faces an eviction catastrophe the likes of which we have never seen.

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Unemployment Rates Surprisingly Fall and Post-Corona Recovery Begins

By: Adam Dunlap / Posted on: June 10, 2020

Unless you’ve been living under a rock since February 2020, you’ve probably noticed the economic impact worldwide of the novel corona-virus, Covid-19. There has been little to no positive news even as Governors ease restrictions and states/counties move from red to yellow to green phases, until the May 2020 unemployment rates were released days ago. According to the Bureau of Labor Statistics, May saw an increase of 2.5 million jobs and an unemployment rate of 13.3%, down from April’s 14.7%. This number came as a overwhelmingly positive shock as most experts had predicted it to increase to near 20%, the worst figure since the Great Depression.[1]

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Iranian General Killed, Cause for Oil Prices Sudden Increase

By: Daniel Guttman / Posted on: January 3, 2020

Qassem Soleimani, the head of Iran's elite Quds military force and one of the most powerful figures in the Islamic Republic, was killed Thursday night in an airstrike in Baghdad, the U.S. Defense Department confirmed. The death of such a powerful figure in the Iranian landscape raises questions about instability in a region which supplies about 25 percent of the world’s oil. Brent Oil, the international benchmark of crude, surged to nearly $70 a barrel (an increase of 4 percent) whereas West Texas Intermediate, the American oil benchmark for crude, also rose about 4 percent, to nearly $64 a barrel. This is the largest price increase since the attack on a major Saudi oil processing plant back in September.

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Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.

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