Terms and Conditions

Last revised: October 8, 2026

Important notice

MacroEdge publishes research and commentary. It does not give personal investment advice, and nothing on this site is an offer to buy or sell any security, fund or interest. Please read this page before you use the site or subscribe.

Research only. Our content is for general information and education. It is not tailored to you and is not investment, legal, tax or accounting advice.
No offer. Nothing here is an offer or solicitation in any place where one would be unlawful. Any offering of securities is made only through formal offering documents to eligible persons, never through this site.
Model portfolios are not investable with MacroEdge. Portfolio strategies published in Ozone are research examples. You cannot invest in them through MacroEdge.
Risk. Markets involve risk, including loss of principal. Past performance does not guarantee future results.
Affiliations. MacroEdge is affiliated with LX Oil and Ranch LLC, which owns oil and gas interests. See "Who we are and our affiliations" below.
Your agreement. By using this site, the Client Portal or any MacroEdge subscription, you agree to these terms.

Who we are / our affiliations

MacroEdge is a brand of LX Macro Research LLC, a Wyoming limited liability company based in Scottsdale, Arizona ("MacroEdge," "we," "us"). We publish macro research and oil and gas research.

Affiliation with LX Oil and Ranch. MacroEdge is affiliated with LX Oil and Ranch LLC ("LX Oil and Ranch"), which owns producing oil and gas interests. Our oil and gas research is written by people who also work with an owner of those interests, and you should read it with that in mind.

Positions and conflicts. LX Oil and Ranch, MacroEdge, and their owners, employees and affiliates may hold interests in oil and gas assets, commodities and related securities that our research discusses. We do not receive payment from companies we write about for coverage of them.

Independence. MacroEdge is not owned by a bank, broker or fund manager. Our research is not prepared under the independence rules that apply to research produced by regulated investment firms, and it should not be treated as such.

Other affiliated businesses. The LX group includes other businesses. Nothing on this site relates to them, and nothing on this site is an offer of their securities or services.

Research and content disclaimers

Not advice. Our research, commentary, data, charts, radio show and social posts are general in nature. They do not take into account your objectives, finances or circumstances. They are not a recommendation to buy, sell or hold any security, commodity, contract or interest, and you should not rely on them as the sole basis for a decision. Speak to a qualified professional before you act. Your decisions are yours. You are solely responsible for your investment, business and hedging decisions and for any results.

Views change. Opinions are as of the date shown, are our own, and may change without notice. We have no obligation to update any content.

Forward-looking statements. Scenarios, estimates and outlooks are not predictions or guarantees. Actual outcomes can differ materially from anything stated or implied.

Sources and accuracy. We compile information from sources we believe are reliable and act in good faith, but we do not guarantee that it is accurate, complete or current, and we accept no responsibility for errors or omissions. Third-party data and quotations remain the property of their owners and may be subject to separate terms.

Risk. All investing and commodity exposure carries risk, including the loss of principal. Past performance, including any historical data or model results we show, does not guarantee future results.

Job Cuts Tracker. The Job Cuts Tracker counts publicly announced job cuts from public sources. Announcements can differ from actual separations, are sometimes revised, and are not a measure of total employment. Figures may be updated as new information becomes available.

Model portfolios and Plutus

Model portfolios are research. Portfolio strategies published in Ozone show how we think a macro view could translate into positioning. They are hypothetical examples, are not investable, and are not a recommendation that you follow them. Any results shown are hypothetical or historical, may not reflect trading costs, taxes or real-world constraints, and do not guarantee future results.

Plutus is separate. Investable portfolios that use MacroEdge's research are offered by Plutus [Namsoft Advisors], not by MacroEdge. Plutus is responsible for those portfolios, their fees, their risks and their regulatory status. Please read Plutus's official materials, including its disclosures, before you consider investing.

Our relationship with Plutus. MacroEdge receives compensation from Plutus based on assets in the portfolios that use our research, as disclosed in our original announcement. That compensation is a conflict of interest, and we disclose it so you can weigh our commentary accordingly.

No cross-endorsement. A mention of Plutus in our research is not a solicitation, and our model portfolios are not a substitute for Plutus's documents.

Oil and gas research and advisory

Research. Oil and Gas Research is published to subscribers through our Substack. It covers prices, production, costs, economics and market developments. It does not recommend specific transactions, and it is not a solicitation to buy or sell any interest or security.

Advisory. MacroEdge Advisory provides price scenarios, market briefings and planning support to oil and gas operators and owners, private equity and private credit firms, non-operated and mineral and royalty platforms, and family offices. Advisory is provided only under a separate written agreement, which controls over this page. Scope, fees and other terms are set customer by customer in that agreement. The descriptions on this site are not an offer of any particular service.

What advisory is not. Unless a written agreement with us says otherwise, MacroEdge Advisory does not:

give personal investment advice or manage anyone's money;
execute, arrange or recommend specific hedging trades or transactions;
act as a broker, finder or intermediary, or receive payment that depends on a transaction closing; or
provide legal, tax, engineering, reserves or valuation opinions.

Eligibility. Advisory is offered to businesses and institutional or professional clients. We may decline any request.

Subscriptions, billing and refunds

Plans and prices. Current plans and prices are shown at checkout and on the relevant product page. We may change prices going forward and will give subscribers advance notice [active subscribers are not subject to price increases for Substack offered products] by email before a change affects their next payment.

Recurring billing. Subscriptions renew automatically at the end of each billing period (monthly or annual, depending on the plan you chose) until cancelled. By subscribing you authorize us, through our payment processor, to charge your payment method each period. You can cancel at any time in your account or by emailing info@macroedge.net. Cancellation takes effect at the end of the current paid period, and you keep access until then.

All sales are final. Digital content is delivered as soon as payment is processed, so we do not offer refunds, exchanges or partial-period credits once a payment is made, except where the law gives you a right to one.

Payment methods. We accept major credit and debit cards from recognized institutions. We may decline any method that cannot be verified or does not support recurring billing. Since January 29, 2026, we do not accept prepaid cards, gift cards or disposable card numbers.

Substack subscribers. Subscriptions bought through Substack are billed and managed by Substack under its own terms. We cannot cancel, pause or refund them, and you must manage them in your Substack account. If you hold an active Substack subscription and also subscribe with us directly, we may cancel the direct subscription, and you remain responsible for your Substack billing.

Failed payments. If a payment fails, we may suspend access until it is resolved, or cancel the subscription.

Taxes. Prices may exclude applicable taxes, which are added where required.

Intellectual property, accounts and acceptable use

Our content. MacroEdge's research, data, charts, indicators, models, text, logos and the MacroEdge name are owned by us or our licensors and are protected by copyright, trademark and other laws.

Your license. If you subscribe or use the Client Portal, we grant you a limited, non-exclusive, non-transferable license to read and use our content for your own internal, non-commercial purposes while your access lasts.

What you may not do. Without our written permission, you may not:

copy, resell, republish or share our subscriber content beyond brief quotations with credit and a link;
share your login or let others use your account;
scrape, mine or bulk-download our content, or use it to train or build a machine-learning model; or
remove notices, bypass access controls or interfere with the site.

Accounts. You must be at least 18 and give accurate information. You are responsible for activity on your account, and you should tell us promptly if you suspect misuse. We may suspend or end access for breach of these terms.

Third-party material. We use third-party images and data, many in the public domain. Where material is copyrighted, our policy is to provide a link and credit the owner. If you believe we have used your work incorrectly, email info@macroedge.net and we will review it promptly.

Your feedback. If you send us comments or suggestions, we may use them without obligation to you.

Trademarks

The MACROEDGE[™ or ®] wordmark and the MacroEdge logo are registered trademarks. U.S. Trademark Serial No. 99714871.

Use of our marks. You may not use our names, logos or marks, or any confusingly similar name or mark, without our prior written permission. That includes domain names, social media handles, advertising and the titles of products or services. This does not restrict fair and accurate references to MacroEdge by name, such as quoting our research with credit and a link.

Other names. Other product, company and trademark names on this site, including Plutus and Substack, belong to their owners. Mentioning them does not imply endorsement.

Misuse. If you see our marks used in a way you think is wrong, please email info@macroedge.net.

Warranties, liability, governing law and contact

No warranties. The site and our content are provided "as is" and "as available." To the fullest extent the law allows, we disclaim all warranties, express or implied, including accuracy, completeness, fitness for a particular purpose and uninterrupted access.

Limit of liability. To the fullest extent the law allows, MacroEdge, LX Macro Research LLC, their affiliates and their owners, employees and contractors are not liable for any indirect, incidental, special, consequential or punitive damages, or for any loss of principal, profit, business or data, arising from your use of our content. Our total liability for any claim will not exceed the amount you paid us in the twelve months before the claim arose. Some places do not allow these limits, so they apply only as far as the law permits.

Indemnity. You agree to cover losses we suffer from your breach of these terms or your misuse of the site, to the extent the law allows.

Governing law. These terms are governed by the laws of Wyoming, without regard to conflict-of-law rules.

Availability. Our content is not directed at anyone in a place where its publication or use would be unlawful, and it is not intended for those people.

Privacy. Our Privacy Policy explains how we handle your personal information.

Changes. We may update these terms. The date at the top shows the latest version, and continued use after a change means you accept it. We will give subscribers notice of material changes by email.

If part of these terms is unenforceable, the rest stays in force.

Contact. LX Macro Research LLC (MacroEdge), Scottsdale, Arizona. Email: info@macroedge.net

Effective date:

October 8, 2026. Last revised: October 8, 2026.