IEF's McMonigle: $150 a barrel is still possible

The video discusses the challenges faced by OPEC and other market participants in the energy sector, particularly in light of the Ukraine crisis and its impact on Russian oil supplies. It covers oil price forecasts, consumer concerns, and the supply-demand dynamics influenced by geopolitical events. The discussion also touches on European energy policies and the role of OPEC Plus in stabilizing the market amid geopolitical tensions.

What is the estimated impact of the Ukraine crisis on Russian oil supplies according to the IMF?

• 2.5 million barrels a day

• 2 million barrels a day

• 1.5 million barrels a day

• 1 million barrels a day

What is the forecasted oil price for Q3 according to the Bloomberg survey?

• $95 a barrel

• $90 a barrel

• $92 a barrel

• $100 a barrel

What is the estimated impact on oil demand for every 1% downgrade in GDP?

• 450,000 barrels a day

• 500,000 barrels a day

• 550,000 barrels a day

• 600,000 barrels a day

What percentage of pre-pandemic levels has global oil demand returned to, according to the latest data?

• 100%

• 98%

• 95%

• 90%

Which country is mentioned as not meeting its production targets due to investment challenges?

• Venezuela

• Iran

• Nigeria

• Saudi Arabia

What is one of the strategies Europe is considering to reduce reliance on Russian gas?

• Building more nuclear plants

• Importing more LNG

• Increasing coal production

• Expanding wind energy

What is the global spare capacity for oil production mentioned in the transcript?

• 3.5 million barrels a day

• 3 million barrels a day

• 4 million barrels a day

• 2 million barrels a day