Citi’s Morse Sees Oil Above $50 by End of 2020 as Production Slides

The video discusses the future of Brent crude prices, predicting a rise to $50 by the end of the year and $60 by the end of 2021. It examines the impact of reduced capital spending on US and Canadian oil production and the global economy's recovery. The sustainability of oil production at different price levels is analyzed, considering the economics of drilling activities worldwide. The video concludes with a projection of Brent prices reaching $60 by the end of the next year.

What is the expected price of Brent crude by the end of the year according to the short to medium-term outlook?

• $60

• $30

• $50 and above

• $40

Which factors are considered in the long-term sustainability of Brent crude prices?

• Technological advancements

• Weather conditions

• Political stability

• Economic factors and drilling activity

At what price level can the world produce a significant amount of oil from shale and deepwater sources?

• $60 to $70

• $45 to $50

• $30 to $40

• $70 to $80

What is the predicted price of Brent crude by the end of next year?

• $50

• $55

• $60

• $65

What is the main reason for the potential increase in Brent crude prices to $60 by the end of next year?

• Increased demand from Asia

• Short-term market crunch and recovery

• Technological advancements in drilling

• New oil discoveries