Oil Prices Continue 2018 Climb as U.S. Stockpiles Fall

The video discusses oil price expectations, focusing on historical forecasting methods and current market dynamics. It analyzes stockpiles, production trends, and the impact of market disruptions, such as geopolitical factors and pipeline issues. The discussion includes recent oil price movements, investment strategies, and the risks associated with Venezuelan production and shale underperformance. The video emphasizes the importance of capital discipline and the potential for strong growth in shale production.

What is the primary reason for not expecting a build in stockpiles in 2018?

• Increased demand for oil

• A fresh influx of production

• Reduction in oil prices

• Decrease in global oil consumption

What major event in December affected the Brent contract?

• A new oil discovery

• The 40s pipeline disruption

• An increase in shale production

• A change in OPEC policies

What is the expected oil price according to the independent analyst in 2018?

• $55

• $70

• $85

• $100

What is the key risk to the oil market balance mentioned in the discussion?

• Increased shale production

• Rising global demand

• Venezuelan production decline

• OPEC's new policies

What does the concept of backwardation indicate in the oil market?

• Increased oil production

• Higher future oil prices

• Lower current oil prices

• Tighter current market conditions