Brent Seen at $69 Average in 2018, $63 in 2019, JPMorgan Says

The video discusses insights from a recent OPEC seminar in Vienna, highlighting a consensus on increasing oil production by 500,000 barrels per day. It examines the impact on oil prices, with forecasts suggesting a decrease in Brent prices. The analysis includes a detailed look at global cash break-even points for producers. Demand growth, particularly in China and the US, is explored, with no significant evidence of demand destruction despite higher prices. The video concludes with a discussion on potential production increases by Saudi Arabia and Russia, aiming for a consensus among OPEC members.

What is the consensus on the additional barrels per day being added to the market?

• 1 million barrels

• 2 million barrels

• 500,000 barrels

• 200,000 barrels

What is the average Brent price forecasted for next year?

• $69

• $63

• $80

• $55

What is the cash break-even range for producers and companies?

• $50 to $60

• $40 to $50

• $70 to $80

• $60 to $70

What is the current year-to-date oil product demand growth in China?

• 3%

• 10%

• 7%

• 4%

Which countries are mentioned as potentially increasing production?

• China and India

• USA and Canada

• Saudi Arabia and Russia

• Iran and Iraq