Demand Confidence to Push Oil Prices, Analyst Sen Says

The video discusses the strong demand and robust refining margins despite a crude rally, highlighting the impact of a US cold snap on heating oil prices. It reassures that the worst of COVID may be over, with Omicron fears less severe than anticipated. The supply has been lagging behind demand, with dwindling spare capacity and no excess inventory, leading to potential price increases. OPEC's production increase is less than expected, with countries like Nigeria and Angola struggling due to lack of investment, while Saudi Arabia, UAE, Kuwait, and Iraq are the main sources of production growth.

What is a promising sign for the energy market despite the crude rally?

• Strong demand and robust refining margins

• Weak refining margins

• Decreasing heating oil cracks

• Excess inventory

What recent weather event in the US has impacted the energy market?

• Drought

• Cold snap

• Heatwave

• Hurricane

What is the current state of spare capacity in the energy market?

• Increasing rapidly

• Stable and sufficient

• Dwindling

• Excessive

How much of the OPEC quota increase is actually being produced?

• All of it

• About half

• More than expected

• None of it

Which countries are expected to contribute to production growth?

• Nigeria and Angola

• Russia and Venezuela

• Saudi Arabia, UAE, Kuwait, and Iraq

• United States and Canada