Oil Demand Has Been Driving the Prices Lower, Says Fat Prophets' Lennox

The transcript discusses the current state of the oil market, focusing on the shift from supply to demand concerns and its impact on prices. It highlights the potential for flat demand in 2019 and the role of OPEC in influencing oil prices through production cuts. The discussion also touches on the market's reaction to supply disruptions and the likelihood of reaching peak oil prices by the end of 2018.

What has been the recent shift in the oil market's focus?

• From supply to demand

• From exports to imports

• From demand to supply

• From production to consumption

What is the expected oil demand for 2019?

• Unpredictable

• Flat compared to 2018

• Significantly lower than 2018

• Significantly higher than 2018

What has been driving the oil prices lower recently?

• Decreased demand

• Technological advancements

• Political instability

• Increased supply

What could potentially cause oil prices to rally in 2019?

• OPEC increasing production

• OPEC implementing production cuts

• A surge in global demand

• Technological breakthroughs in oil extraction

What historical action by OPEC is mentioned as a precedent for influencing oil prices?

• Introducing new oil extraction technologies

• Increasing the production ceiling

• Decreasing the production ceiling

• Maintaining a stable production rate