{"id":9721,"date":"2023-06-01T18:16:12","date_gmt":"2023-06-01T22:16:12","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=9721"},"modified":"2023-07-28T12:27:48","modified_gmt":"2023-07-28T16:27:48","slug":"petroleum-daily-report-6-1-2023","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-1-2023\/","title":{"rendered":"Petroleum Daily Report 6-1-2023"},"content":{"rendered":"\n<p>Oil prices rose today by the most in two weeks ahead of the OPEC+ meeting Sunday. The short sellers have come out to play big time in the last several days and Saudi Arabia\u2019s energy minister is warning them to tread lightly. Sources have indicated that the group is not expected to cut production but Saudi Arabia has been known to break from the group and do cuts of their own. The OPEC+ meeting this weekend may be leading to a little caution around those low price levels, particularly in light of the &#8216;watch out&#8217; warning from the Saudi energy minister, OANDA analyst Craig Erlam said. Tomorrow&#8217;s EIA report will be interesting, particularly to see implied fuel demand headed into Memorial Day weekend. WTI traded up $2.01 or 3% to close at $70.10. Brent traded up $1.68 or 2.3% to close at $74.65.<\/p>\n\n\n\n<h3 align=\"center\"><a href=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/06\/Petroleum_Daily612023.pdf\">On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n<embed src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2023\/06\/Petroleum_Daily612023.pdf\" type=\"application\/pdf\" width=\"100%\" height=\"960\" alt=\"Oil prices rose today by the most in two weeks ahead of the OPEC+ meeting Sunday. The short sellers have come out to play big time in the last several days and Saudi Arabia\u2019s energy minister is warning them to tread lightly. Sources have indicated that the group is not expected to cut production but Saudi Arabia has been known to break from the group and do cuts of their own. The OPEC+ meeting this weekend may be leading to a little caution around those low price levels, particularly in light of the 'watch out' warning from the Saudi energy minister, OANDA analyst Craig Erlam said. Tomorrows EIA report will be interesting, particularly to see implied fuel demand headed into Memorial Day weekend. WTI traded up $2.01 or 3% to close at $70.10. Brent traded up $1.68 or 2.3% to close at $74.65.\">\n\n\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Stampede-2026.jpg\" alt=\"Stampede\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Calgary<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), Curtis Chandler(239-405-3365), Cyndi Popov (403-402-5043)   <\/li>\r\n\t<\/ul>\r\n<\/font>\r\n\r\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Mars-Lake-Geneva-2026.jpg\" alt=\"swars\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Grand Geneva Resor<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.mwrailshippers.com\/event\/2026-summer-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/li>\r\n\t<\/ul>\r\n<\/font>\n","protected":false},"excerpt":{"rendered":"<p>The short sellers have come out to play big time in the last several days and Saudi Arabia\u2019s energy minister is warning them to tread lightly.<\/p>\n","protected":false},"author":2,"featured_media":9558,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Petroleum Markets Report for June 1st, 2023<\/title>\n<meta name=\"description\" content=\"The short sellers have come out to play big time in the last several days and Saudi Arabia\u2019s energy minister is warning them to tread lightly.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-6-1-2023\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Cohen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-1-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/petroleum-daily-report-6-1-2023\\\/\"},\"author\":{\"name\":\"David 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