OPEC+ announced an unexpected cut in oil production of more than a million barrels per day, breaking its promise to maintain supply stability and introducing a new risk to the global economy. In company news, after completing its takeover of Credit Suisse, UBS is expected to reduce its workforce by 20% to 30%; and Tesla has fallen short of Elon Musk's long-term goal of 50% annual growth despite record first-quarter deliveries. Mensur Pocinci, our Head of Technical Analysis, provides some insights into the this morning’s oil rally.
00:14 Introduction by Helen Freer (Investment Writing)
00:36 Markets wrap-up by Alexander Petersen (Investment Writing)
04:21 Technical analysis update by Mensur Pocinci (Head of Technical Analysis)
06:41 Closing remarks by Helen Freer (Investment Writing)