(4/3/23) OPEC+ cut production by 500k-bbl over the weekend, hiking prices by 6% this morning to around $80bbl from $110bbl. The price of oil is a function of two things: As the economy slows, a slow down in demand occurs, dropping prices, in this case back to below the 200-day moving average, a pattern of about two-years' worth of pricing history. OPEC likes profitability from higher prices, and so cut production to keep supply low and prices high. That won't last, however. This, of course, runs afoul of the White House and Fed plans for cutting inflation. Can't do much of that when oil prices are on the rise. Meanwhile, energy stocks remain extremely elevated above the moving average. While we may see a short term bump in energy stocks, prices cannot remain as deviated from the average for very long.  Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton --------  Articles mentioned in this report: "Bullish Buy Signals Mark 4200 For Relief Rally" https://realinvestmentadvice.com/bullish-buy-signals-mark-4200-for-relief-rally/ -------- Articles mentioned in this report: "Are The FANG Stocks Dead?" https://realinvestmentadvice.com/are-the-fang-stocks-dead/ ------- Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel:  https://www.youtube.com/watch?v=6JeByrzYLJM&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #OilPrices #OPEC #Inflation #FederalReserve #200DMA #Markets #Money #Investing