Big Story: Russia -- February 10, 2023

WTI: moving higher; could we see an 8-handle next week?

• CVX: up $2.38; up $1.68; biggest winner on the Dow for the week;
• COP: up $3.79; up 3.45%;
• PSX: up $2.68; up 2.62%;
• MPC: up $3.39; up 2.81%
• ENB: up 58 cents; up 1.48%

Big story today: Russia announces an immediate 500,000-bopd cut in production.

• why Russia cut production (my hunch: she missed the real reason);
• OPEC+ has no plans to react to Russia's surprise production cut (headline error?)
• did this affect WTI? Not really. 

From yesterday: 

Russia has lost the energy war: link here.