JPMorgan See Brent Crude Around $90 in 2023, $98 in 2024

The video discusses the volatile oil market, focusing on the impact of COVID-19 in China and energy security issues in Europe. It outlines a base case for gradual reopening in China, predicting a cautious growth in oil demand. The video also covers the EU's sanctions on Russian oil, the potential impact of a G7 price cap, and forecasts for oil prices in 2023 and 2024. The discussion includes the availability of vessels to transport Russian oil and the potential disruptions in supply.

What is the base case scenario for China's reopening in terms of oil demand?

• No reopening

• Complete lockdown

• Gradual reopening

• Immediate full reopening

What is the expected global oil demand growth for 2023?

• 500,000 barrels per day

• 1.3 million barrels per day

• 2 million barrels per day

• 3 million barrels per day

What is the expected oil price per barrel in 2024?

• $100

• $90

• $80

• $98

What major event is scheduled for December 5th concerning Russian oil?

• UN climate conference

• EU sanctions on Russian oil

• OPEC meeting

• G7 summit

What is the potential static price range being debated for the oil price cap?

• $50 to $60

• $62 to $70

• $80 to $90

• $70 to $80

What is the expected drop in Russian oil production by mid-2023?

• 400,000 barrels per day

• 100,000 barrels per day

• 200,000 barrels per day

• 300,000 barrels per day

What could be the impact on Brent prices if the G7 price cap is not decided?

• Significant increase

• Significant drop

• Slight increase

• No change