Oil Drops From Three-Month High

The video discusses the current state of the oil market, focusing on Iran's production plans and their impact on prices. Joe Kusik, a strategist, provides insights into whether the market has reached a bottom, highlighting volatility and price ranges. He notes mixed data from Iran and discusses market sentiment. Future projections suggest an upward momentum, with technical analysis indicating resistance levels. The role of US shale producers and potential impacts on market prices are also examined.

What is the expected price range for crude oil according to Joe Kusik?

• $30 to $35

• $40 to $45

• $45 to $50

• $37 to $42

What factor is contributing to the uncertainty in the oil market?

• Stable production levels

• Mixed data on Iran's production

• Decreasing demand for oil

• Increasing rig count in the US

What event is expected to influence the momentum in the oil market?

• A new trade agreement

• The March 20th OPEC meeting

• A change in US shale production

• A decrease in global oil demand

How many barrels per day are US shale producers currently producing?

• 11 million

• 9 million

• 7 million

• 5 million

What price level is crucial for the continued production of US shale oil?

• $45

• $30

• $35

• $40