Goldman's Currie Sees High Probability of OPEC Deal

The video discusses the current impatience in the market and the high probability of a sell-off due to weak technicals. It evaluates the scorecard of fundamentals, highlighting global demand, US GDP, and low-cost producers like OPEC and Russia. The US shale response is expected to increase production, but significant inventory draws are anticipated in the second quarter. Historical patterns suggest that patience may run out, leading to market adjustments. The video also addresses US crude storage challenges, particularly in Cushing.

What is the current market sentiment according to the first section?

• Pessimistic with strong technicals

• Optimistic with strong technicals

• Impatient with weak technicals

• Stable with balanced technicals

What is the expected US GDP growth according to the economists mentioned?

• 2.0%

• 1.4%

• 1.0%

• 0.5%

Which country had strong data last week, indicating no weakness in demand?

• India

• China

• Germany

• Brazil

What is the expected US shale response by the end of this year?

• 500,000 barrels per day

• 1.5 million barrels per day

• 850,000 barrels per day

• 1 million barrels per day

What historical pattern is discussed in the third section regarding inventory draws?

• Gradual decrease with no market impact

• Stable inventory levels

• Sudden decrease followed by market chase

• Consistent increase in inventory