Statoil CEO Eldar Saetre Sees Oil Market Rebalancing

The video discusses the challenges of low investment levels in recent years and their impact on production and supply balance. It highlights the ongoing market rebalancing process and the uncertainty surrounding it. Future projections suggest a rise in oil prices to $75 by 2022, driven by strong demand growth. The industry is characterized as cyclical, with a focus on optimizing production and reducing costs.

What has been a significant challenge in the industry over the past few years?

• Excessive production

• High levels of investment

• Low levels of investment and few FIDs

• Stable market conditions

What is the current state of the market according to the transcript?

• The market is experiencing a rebalancing

• The market is declining rapidly

• The market is unaffected by recent changes

• The market is stable and predictable

What unexpected trend is mentioned in the transcript?

• Stability in supply

• Decrease in production costs

• Decrease in oil prices

• Unexpected growth in demand

What is the expected trend for oil prices by 2022?

• Oil prices will decrease significantly

• Oil prices will remain the same

• Oil prices will rise to 75 USD

• Oil prices will fluctuate unpredictably

What is a fundamental characteristic of the industry mentioned in the transcript?

• It is a cyclical industry

• It is a declining industry

• It is an unpredictable industry

• It is a stable industry