Goldman: Base Case Remains Delta Wave Will Impact Demand

The video discusses President Biden's request for increased oil production and OPEC's response, highlighting the slow pace of production increases. It examines the impact of COVID-19, particularly the Delta variant, on oil demand and market reactions. The discussion also covers the future outlook for oil prices, considering supply dynamics and geopolitical factors. Finally, the video analyzes Saudi Arabia's economic position, focusing on its fiscal strategy and market valuation.

What was President Biden's request to OPEC regarding oil production?

• To stop oil production entirely

• To decrease oil production

• To increase oil production

• To maintain current oil production levels

How has OPEC's oil production compared to their target?

• They have fallen short of their target

• They have not set a target

• They have exceeded their target

• They have met their target

What is the estimated impact of the Delta variant on oil demand?

• No change in oil demand

• An increase of 1 million barrels a day

• A decrease of 2 million barrels a day

• An increase of 2 million barrels a day

What is the expected net impact on oil demand over the next two months?

• No change in oil demand

• A decrease of 0.8 million barrels a day

• An increase of 0.8 million barrels a day

• An increase of 1.5 million barrels a day

What is the market's reaction to the Delta variant and China's slowdown?

• The market reaction is understated

• The market reaction is overstated

• The market reaction is accurate

• The market reaction is irrelevant

What is the expected oil price by the end of the year?

• $70 per barrel

• $90 per barrel

• $80 per barrel

• $60 per barrel

What is the current sentiment towards Saudi Arabia's economic outlook?

• Indifferent

• Neutral

• Highly bullish

• Highly bearish