Oil Market Will Rebalance Next Year, BP's Janet Kong Says

The video discusses the global oil market's supply concerns, focusing on disruptions in countries like Iran, Saudi Arabia, Venezuela, Libya, and Nigeria. It examines the market's transition from rebalancing to tightening, predicting a tight market in 2018 and a potential rebalancing in 2019. The discussion also covers the impact of the US-China trade war, which is expected to affect global GDP growth and oil demand more significantly in 2019. Despite current high oil prices, the market has not fully priced in the potential demand risks associated with the trade war.

What are some of the key concerns regarding global oil supply?

• Increased demand from Europe

• Loss of Iranian barrels and Saudi production

• Stable production in Venezuela

• New oil discoveries in the Arctic

What is the predicted state of the oil market in 2018?

• Balanced

• Surplus

• Declining demand

• Tightest part of the cycle

How might the oil market change in 2019 according to the discussion?

• Be unaffected by global events

• Experience a significant decline

• Shift to a balanced or surplus state

• Remain tight

What is the anticipated impact of the US-China trade war on the oil market?

• Immediate and severe

• No impact at all

• Largely ignored in 2018

• Beneficial for oil prices

According to IMF estimates, what is the potential impact on global GDP growth due to the trade war?

• Increase by 1%

• Decrease by 0.5%

• Remain stable

• Increase by 0.5%