Are Higher Oil Prices Here to Stay?

The video discusses the recent debate on inventory declines, highlighting the impact of Canadian supply disruptions on US inventories and the potential for higher OECD inventory levels. It also examines strong demand from emerging markets like India and China, driven by domestic production declines and increased gasoline consumption. Market forecasts suggest a balance in the second half of the year, with Saudi production expected to rise. The potential for increased US completion activity in 2017 is also noted, depending on oil prices.

What recent event has impacted US oil supplies, particularly in Cushing?

• Increased domestic production

• Canadian supply disruptions

• Middle Eastern conflicts

• European demand surge

Which countries have shown strong gasoline demand this year?

• Australia and Japan

• Brazil and Russia

• India and China

• Germany and France

What is the expected global demand growth for oil this year?

• 0.5 to 0.6 million barrels per day

• 1.2 to 1.3 million barrels per day

• 2.0 to 2.1 million barrels per day

• 3.0 to 3.1 million barrels per day

What is the market expectation for Saudi oil production in the second half of the year?

• Decrease production

• Maintain current levels

• Stop production

• Increase production

What could potentially lead to a pickup in US completion activity in 2017?

• Oil prices averaging in the 40s

• Oil prices averaging in the 70s

• Oil prices averaging in the 50s

• Oil prices averaging in the 60s