I promised to share some thoughts tonight ahead of the market opening. Here's what I was able to gather.

- Trump said yesterday he hates OPEC, but that's because they are hated by most Americans. He speaks proudly about his friendship with MBS, and that actually outweighs OPEC.

On Friday, he was surrounded by a room full of major US oil company CEO's along with a single representative covering the smaller indies. Trump proudly boasted about his strong friendly relationship with MBS and Putin. Ted Cruz came off as protectionist.

My summary of that meeting is that although Trump would love to do a deal that saves the industry by boosting the oil price and find a healthy workable balance, I feel that the hawkish politicians in the room (together with the oil exec wishes to not cut) built up frustration

with Trump because he didn't sound too positive when WSJ asked him about the meeting. He even thought import tariffs on Saudi and Russia was something to look at, but in all honesty that won't benefit the US because that's not a blockade but an invitation for a price war on USA.

We don't have an actual confirmation on whether or not the US government will shut down production of offshore oil in federal waters (2 million barrels per day in total), so let's see if we can finally get one.

Across the waters, we have OPEC which has signaled that it is ready

to restore balance in the supply vs demand situation, but they alone can not do it, but will need pretty much everyone else to join in as well. Countries like Canada and Norway have warmed up to the idea but Russia's still on the fence, waiting for Trump to confirm USA's position

The Saudis have said that their May OSP (Official Selling Price) would be published on April 9th instead of tomorrow in order to give all parties the opportunity to find consensus. If USA does come up with one, they will likely just announce it outside of such a video call becaus

they can not be seen working officially with a "price cartel". That's fine though because OPEC+ is comprised of something like 43% of the world's oil supply (if not mistaken) and only needs to know that US will play ball. If Putin is convinced that they will, then he will likely

inform the Saudis that he's ready to do the same. This would be a positive, but I expect some zigzagging over the coming days until April 9th meeting, should there be one. Usually, the price tends to hold within the same rng until a decision goes through. Traders are on the fence

And finally, I have no real indication of strength in any of the pre-market indices openings from either APAC or elsewhere. The price of oil shot up by nearly 50% last week and a pullback is expected. Hopefully no worse than mid-$20's throughout the week. Now in USA's hands.

Thx