On-Shore Crude Oil Inventories Are Still a Concern, Analyst Says

The transcript discusses the impact of production cuts and compliance on the oil market, highlighting the roles of Saudi Arabia and Russia. It examines inventory levels in China and the demand rebound as economies lift lockdowns. The discussion also covers the response of state oil companies to rising oil prices and the importance of compliance in maintaining market stability.

What was the main issue with OPEC agreements mentioned in the transcript?

• Lack of production capacity

• High oil prices

• Demand fluctuations

• Compliance among member countries

Which countries were highlighted for needing to align with production cuts?

• USA and Canada

• China and India

• Nigeria and Iraq

• Saudi Arabia and Russia

What was the apparent demand increase for China in May?

• 2 million barrels a day

• 1.2 million barrels a day

• 500,000 barrels a day

• 3 million barrels a day

What trend was observed in OECD Europe's crude imports?

• Increase by 500,000 barrels a day

• Decrease by 1 million barrels a day

• Increase by 1 million barrels a day

• No change

How much was the gasoline demand in the US down year on year?

• 30%

• 20%

• 10%

• 40%

At what price level are state oil companies considering reopening production?

• $50 a barrel

• $42 a barrel

• $30 a barrel

• $60 a barrel

What is the main concern if state oil companies do not comply with production cuts?

• Increased oil prices

• Decreased oil prices

• Low demand

• High repercussions