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<ul><li>After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by another bullish crude oil inventory draw last week, which sent WTI crude oil rocketing higher 16%. </li><li>This was the largest weekly gain since Russia invaded Ukraine and caught the market by surprise. </li><li>The production cut also sent a strong signal to President Biden after OPEC agreed to a production increase in early August after his Saudi Arabia visit (last week’s cut was more than 9X the production increase previously agreed to!). </li></ul>

After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by another bullish crude oil inventory draw last week, which sent WTI crude oil rocketing higher 16%. This was the largest weekly gain since Russia invaded Ukraine and caught the market by surprise. The production cut also sent a strong signal to President Biden after OPEC agreed to a production increase in early August after his Saudi Arabia visit (last week’s cut was more than 9X the production increase previously agreed to!). 

United States

Wolfspeed, Inc. develops and manufactures semiconductor products. The Company offers silicon carbide and GaN solutions for both high power and RF applications. Wolfspeed serves customers worldwide.

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Wolfspeed (WOLF US)

Weekly Stock Bullfinder - Week of 10/10

After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by...

Weekly Stock Bull Finder

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