Oil Likely to Rise in Second Half of 2018, Tortoise's Thummel Says

The video discusses the impact of US-China trade talks on the oil market, highlighting the role of tariffs and Turkey in recent price declines. It explores supply and demand dynamics, focusing on potential supply reductions from Iran and overestimated US production. The forecast suggests rising oil prices in the second half of 2018, with a projected price of $70-$75 per barrel. The video also examines the constraints in US production growth due to infrastructure issues, particularly in the Permian Basin.

What are the main factors mentioned that have caused a decline in oil prices?

• US-China trade talks and Turkey

• Increased demand and OPEC supply

• High investment in non-OPEC supply

• Stable global oil supply

Which country is expected to have a significant impact on global oil supply in the second half of the year?

• Russia

• Canada

• Iran

• Saudi Arabia

What is the expected impact of low oil prices on non-OPEC supply?

• Increase in investment

• Rapid growth in production

• Decline in supply

• Stable supply levels

What is the forecasted price range for oil by the end of the year?

• $70 to $75

• $80 to $85

• $90 to $95

• $60 to $65

What is a major constraint affecting US oil production growth?

• Lack of demand

• OPEC regulations

• Infrastructure constraints in the Permian Basin

• High global oil prices