Saudi Voluntary Cut Will Last Into Year-End

Since the Saudi voluntary cut announcement, we've been writing to readers that we believe the voluntary cut will last until year-end. With July ending soon, readers should expect another extension into September. 

For the oil bulls, the Saudi voluntary cut could be considered bullish and bearish. On the bull side, the ~1 million b/d cut is material and given the crude export figures we are seeing so far, it's real.

On the other end, the bears could argue that the lack of demand is prompting the Saudis to cut so much.