Crude oil sentiment is shifting in a bullish direction, with OPEC+ cuts and a growing list of serious outages taking supply off of the market. Saudi Arabia recently signaled that it would slash its production to just 9.8 million barrels per day (mb/d), or about 0.5 mb/d more than required under the OPEC+ deal. That would take Saudi production down to close to a four-year low, a sign that Riyadh is aggressively trying to push up oil prices. That is significant, especially since Russia is not really carrying its weight. Russia cut output by 42,000…
