Oil Retreats Below $50 on OPEC Output Deal Concerns

The video discusses the current state of the oil market, highlighting the uncertainty surrounding the OPEC deal due to Russia's stance and potential exemptions for countries like Iraq. It also examines the impact of a strong dollar on commodity prices, noting the unusual breakdown in the typical correlation between the two. The discussion includes the anticipation of a Fed rate hike and its implications. Additionally, the video analyzes oil production data and the EIA inventory report, emphasizing the potential effects of increased US production on OPEC's plans.

What are the implications of Iraq wanting to join the exemption list?

Discuss the correlation between the dollar and commodity prices as mentioned in the text.