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Trader Digest: The Future of Crude Oil and Return of Neck Oil

This week in Trader Digest we're seeing continued global protests as part of the Black Lives Matter movement, job losses relating to the drop in oil prices, and Ray Dalio's thoughts on it all.

But there is some good news: Britain may well be re-opening some of its pubs...

WHAT WE'RE READING

OPEC+ Extends Oil Cuts in Win for Saudi-Russian Alliance
‘OPEC+ agreed to a one-month extension of its record oil-production cuts and adopted a stricter approach to ensuring members don’t pump more than they pledged.’ BLOOMBERG

BP to Cut 10,000 Jobs As Virus Hits Demand For Oil
‘BP has announced plans to cut 10,000 jobs amid following a global slump in demand for oil because of the coronavirus crisis.’ BBC

Pubs May Re-open This Month in ‘Save Summer’ Move
‘Firms are preparing to start serving customers outdoors from 4 July, but 22 June is now reportedly being considered by ministers in a "save summer" move.’ BBC

Zoom Stock Surge Gives Little-Known Early Investor a Fortune
‘Some of the biggest names in finance and business made a fortune on Zoom Video Communications Inc.: Hong Kong’s Li Ka-shing, Tiger Global Management’s Chase Coleman and, of course, founder Eric Yuan, whose net worth has surged to more than $10 billion.’ BLOOMBERG

Ray Dalio: My Stream of Consciousness Thoughts About What’s Going On 
‘With racial prejudice, protests and riots arising from the murder of George Floyd, and attempts to maintain law and order grabbing headlines, I was asked, and feel a compelling need, to share my thoughts about what’s going on.’ LINKEDIN

WHAT WE'RE LISTENING TO

How a Trade War Became a Tech War
‘The US and China have been struggling for economic supremacy. But their fight has moved on from charging new taxes on imports, to attacking each other’s' tech industries - and consumers around the world could feel the impact.’ BBC

Black Live Mater Protests Go Global, Doubts Over US Jobs Data
‘US civil rights groups have received a surge of corporate donations since Minneapolis police killed George Floyd, the head of Fidelity International has warned that asset managers will struggle to provide enough cash to keep businesses afloat, and global trade is under threat with up to 400,000 crew stranded either at sea or at home due to Covid-19.’ FINANCIAL TIMES

WHAT WE'RE WATCHING

Deep Web: The Hunt for Dread Pirate Roberts
'An Alex Winter film, narrated by Keanu Reeves, Deep Web gives the inside story of one of the most important and riveting digital crime sagas of the century—the arrest of Ross William Ulbricht, the convicted 30-year-old entrepreneur accused to be ‘Dread Pirate Roberts,’ creator and operator of online black market Silk Road.' AMAZON