Crude Price Has 'Peaked Out' on Weak Demand, Prosper's Bauer Says

The video discusses the recent extension of OPEC's output cuts and its impact on the oil market. It highlights the weak global manufacturing PMI figures and their influence on oil prices. The discussion covers market reactions to OPEC's decision and explores future oil price projections, considering factors like global demand and geopolitical risks. The analysis suggests that oil prices may have peaked and could decline if global economic weakness persists.

What recent action did OPEC Plus take regarding oil production?

• Doubled production

• Stopped production

• Extended output cuts

• Increased output

What is currently capping oil prices according to the discussion?

• Weak global demand

• Increased production

• High global demand

• Strong economic growth

What was the market's reaction to OPEC's decision to extend output cuts?

• Oil prices rose initially

• Oil prices remained stable

• Oil prices doubled

• Oil prices fell sharply

What could potentially cause oil prices to rise again?

• Stable economic conditions

• OPEC increasing production

• Geopolitical risks

• Increased global demand

What price level is considered a significant resistance area for oil?

• $70

• $60

• $50

• $40