Citi's Morse Sees Challenging Market for Oil Into 2023

The video discusses OPEC's strategic options amid geopolitical changes, particularly Saudi Arabia's recent military agreement with Russia. It explores the current oil market dynamics, including price stability and OPEC's strategy to maintain market balance. The discussion also covers future challenges, such as the potential impact of a US-Iran JCPOA agreement and the return of Iranian oil to the market, which could significantly affect oil supply and prices.

What recent action by Saudi Arabia indicates a shift in its geopolitical strategy?

• Signing a military agreement with the US

• Visiting China for trade talks

• Signing a military agreement with Russia

• Increasing oil production unilaterally

What is the current strategy of OPEC regarding oil prices?

• To maintain current oil prices by adjusting supply

• To increase oil prices by reducing supply

• To drastically cut oil production

• To stop oil production entirely

What could potentially bring 1.8 million barrels of oil per day back into the market?

• The return of Iranian oil due to a JCPOA agreement

• A new OPEC agreement

• Increased US shale production

• A new oil discovery in Saudi Arabia

How much non-OPEC oil is expected to enter the market next year?

• 2 million barrels a day

• 1 million barrels a day

• 4 million barrels a day

• 3 million barrels a day

What is the current consensus on US oil production returning to the market?

• 1 million barrels a day

• 800,000 barrels a day

• 600,000 barrels a day

• 400,000 barrels a day