Oil Analyst Streible Says $60 Is a Good Average Price for 2019

The video discusses the crude oil market's recent trends, highlighting a significant weekly gain despite uncertainties in US production, a slowdown in China, and trade talks. Phil Streible from Rjo Futures provides insights into the market, noting the impact of US-China trade relations and US production levels. OPEC's agreement with Russia to reduce production and US sanctions on Iran are also discussed. The video further explores how economic factors, such as Federal Reserve policies and a stronger dollar, influence crude oil trading.

What has been a significant headwind for crude oil prices recently?

• Increase in global demand

• Decrease in US production

• US-China trade relations

• OPEC's production increase

What is the expected average price of crude oil for 2019 according to the discussion?

• $65

• $60

• $55

• $50

How has Russia adjusted its crude oil production?

• Maintained at 11.5 million barrels per day

• Increased to 12 million barrels per day

• Reduced to 11.3 million barrels per day

• Stopped production entirely

What external factor is mentioned as influencing crude oil trading?

• Federal Reserve's dovish stance

• US-China trade agreement

• OPEC's production cuts

• Increase in global oil demand

What is the Federal Reserve's expected action that might affect the market?

• Two more rate cuts

• Two more rate hikes

• No change in rates

• Immediate rate reduction