Betting on an Oil Rebound?

The video discusses the recent decline in oil prices, with Brent crude falling by 19% and WTI experiencing a similar drop. Despite this, analysts believe prices won't stay low for long due to future demand and supply challenges, including high-cost areas like the Arctic. The International Energy Agency predicts global consumption will rise from 92.8 million barrels a day to 99 million by 2019. OPEC production has increased, while the US is producing more oil than in decades. Low prices have led to project cancellations and could slow US shale drilling. Analysts forecast oil prices to rise, with predictions of $104 to $115 per barrel in the coming years.

What is the main reason that current low oil prices might not last long?

• Increased supply from low-cost areas

• Future demand requiring high-cost supply

• OPEC's decision to cut production

• A decrease in global oil consumption

According to the International Energy Agency, how is global oil consumption expected to change by 2019?

• Fluctuate between 90 and 95 million barrels a day

• Increase to 99 million barrels a day

• Decrease to 85 million barrels a day

• Remain stable at 92.8 million barrels a day

What has been the trend in OPEC's oil production as of September?

• It has slightly declined

• It has grown at the fastest rate in over a year

• It has decreased significantly

• It has remained constant

What impact have low oil prices had on projects in Canada and the Arctic?

• Increased investment in new projects

• 22 projects have been canceled

• Projects have been completed ahead of schedule

• No impact on project timelines

What is the general consensus among analysts regarding future oil prices?

• Prices are unlikely to remain below $100 for long

• Prices will drop to $80 by 2016

• Prices will stay below $100 for a long time

• Prices will remain below $90