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OPEC+ Surprises With Oversized Output Hike

OPEC+ will ramp up oil production more aggressively than anticipated in August, accelerating the rollback of its 2023 voluntary supply cuts in a bid to capture market share amid peak summer demand. At a virtual meeting Saturday, eight core members led by Saudi Arabia agreed to add 548,000 barrels per day (bpd) to global supply—exceeding…

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USOY Is an Income Juggernaut

USOY Is an Income Juggernaut

The Defiance Oil Enhanced Options Income ETF (USOY 0.32%) is an alluring income-focused investment opportunity. The exchange-traded fund’s (ETF) implied annualized distribution rate is an eye-popping 111%. It distributes income to fund investors on a weekly basis. That combination of yield and payment frequency makes it appear to be an income juggernaut. However, and you…

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