Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

May 31, 2017- EU, OPEC Struggles, Goldman & Maduro

- Europes inflation rose 1.4% compared to the predicted 1.5% increase. Fortunately for them, their flash inflation decelerated from the 1.9% pace early this year.
- As for crude oil today, traders will be on the look out for the EIA monthly oil and natural gas production, as well as the API weekly oil inventory report. This morning both WTI and Brent down over 2%. On the other hand, the once expensive deep sea oil production has become cheaper with breakeven prices dropping from $75/barrel to $50/barrel. This hurts OPEC as they have been trying to lower global oil supply with their recent cuts, but efficient players like U.S Shale producers and now Deep Sea Producers are interrupting the plans. As long as oil stays generally above $50/barrel, these producers will grow and profit at the expense of OPEC. Companies like Transocean (NYSE:RIG) are expecting to take advantage of the lowered cost of production by purposing more offshore projects for approval over the next few years.
- Financials continue to head lower, especially Goldman Sachs, after the accusation that GS purchased $2.8 billion worth of bonds to profit from Maduro's dictatorship in the third world country. Goldman stock has dropped 5% this week.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.