Tonight, oil futures opened up hours ago up almost 12% and then crashed and have gotten down to as low as 6%. This is a lot of volatility for the oil market in only a few hours. Track the oil futures price here: https://www.tradingview.com/markets/futures/quotes-energy/ The OPEC+ meeting is delayed and Putin is lobbing verbal moltov cocktails at the Saudis accusing them of intentionally increasing oil production just to try to kill US shale oil again. Putin: Oil Glut Is Really About Saudi Desire To Crush US Shale https://www.zerohedge.com/energy/putin-despite-saudi-spin-oil-glut-really-driven-riyadhs-desire-crush-us-shale From 2013-2016, the Saudis mostly unsuccessfully tried to kill US shale oil as they refused to cut oil production back then and OPEC allowed the oil price to go from triple digits down to below $65/barrel without production cuts. The Saudis spent many hundreds of billions of dollars of their sovereign wealth fund running budget deficits and covering their social program spending because oil prices were not high enough to balance their government budget and cover their social program spending. Tracy Shuchart (Chi Girl) on a podcast to talk about the oil market: https://www.buzzsprout.com/964762/3244972-oil-opec-deal-china-and-russia This past week, Whiting Petroleum was the first large casualty announcing bankruptcy: U.S. shale company Whiting becomes first major bankruptcy of oil-price crash https://finance.yahoo.com/news/whiting-begins-chapter-11-bankruptcy-125108138.html UAE’s Fujairah oil storage tanks at full capacity- industry, trade sources https://www.hellenicshippingnews.com/uaes-fujairah-oil-storage-tanks-at-full-capacity-industry-trade-sources The Oil Giant Drowning In Debt https://finance.yahoo.com/news/oil-giant-drowning-debt-210000876.html Big Oil Raises Debt To Ride Out Price Crash https://oilprice.com/Energy/Energy-General/Big-Oil-Raises-Debt-To-Ride-Out-Price-Crash.html Demand Destruction Will Decimate Oil Prices https://oilprice.com/Energy/Energy-General/Demand-Destruction-Will-Decimate-Oil-Prices.html IEA: OPEC Can’t Save The Oil Market https://oilprice.com/Latest-Energy-News/World-News/IEA-OPEC-Cant-Save-The-Oil-Market.html Please visit the Wall St for Main St website here: http://www.wallstformainst.com/ Follow Jason Burack on Twitter @JasonEBurack Follow Wall St for Main St on Twitter @WallStforMainSt You can also checkout the Wall St for Main St Facebook Fanpage at http://www.facebook.com/WallStforMainSt or the Wall St for Main St Facebook Group where you can learn and join in on the conversation! Commit to tipping us monthly for our hard work creating high level, thought provoking content that includes interviews with top experts, analysis and short videos about investing and the economy https://www.patreon.com/wallstformainst Also, please take 5 minutes to leave us a good iTunes review here! We only have about 75 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437 If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website. Donate Crypto Currency to WS4MS: Send Bitcoin to: 1N5iDrazojYX5rWxmoyp982RDXJzJrFoPC Send Ethereum (ETH) to: 0x748dD59fA5d5dF80E8C0038DD4F60DAb810fe61a Send Litecoin to: MW7g44j5FX9CYEkvfPvxsW5dFjHY84yup4 Send DASH to: XuEEhWptwf1XxP2nFYQxmBfBBJYehqRoBJ Send Zcash (ZEC) to: t1MGcxyWpiH6JeyF9nnWHw9poRpvTW4PT6S Send Bitcoin Cash (BCH) to: qr7mp7f053rwnpxalxljl3f9x5tulzv53ya88d7wch Wall St for Main St is also available for personalized investor education and paid research work (we write research reports and teach). Please email us to learn more about the research work we offer at: [email protected] **DISCLAIMER- ANYTHING MENTIONED DURING THIS AUDIO OR SHORT VIDEO RECORDING IS FOR INFORMATION & EDUCATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT ADVICE. JASON BURACK AND HIS GUESTS ARE MERELY STATING THEIR OPINIONS ON DIFFERENT TOPICS RELATED TO INVESTING, THE ECONOMY, MARKETS OR COMPANIES. PLEASE TALK TO YOUR INVESTMENT ADVISOR AND DO ADDITIONAL RESEARCH AND DUE DILIGENCE ON YOUR OWN BEFORE INVESTING AND MAKING IMPORTANT INVESTMENT DECISIONS.- DISCLAIMER**