Opec+ Sees 2021 Oil Deficit, 2022 Surplus

The video discusses the expectations and potential surprises from the OPEC+ meeting regarding oil production. It highlights internal frictions within OPEC+ and how they have been managed, particularly between the UAE and Saudi Arabia. The video also covers oil price projections, with differing views from UBS and Bloomberg, and factors affecting these projections, such as supply and demand dynamics. Additionally, it explores the impact of US shale technology and the concept of peak oil demand, which could lead to significant market changes.

What is the general expectation from the OPEC+ meeting regarding oil production?

• An increase of 400,000 barrels a day

• A decrease in production

• A complete halt in production

• No change in production

Which two countries recently settled a dispute within OPEC+?

• Russia and UAE

• Nigeria and Iraq

• UAE and Saudi Arabia

• Saudi Arabia and Russia

What is the UBS Global Wealth Management's price target for oil?

• $50 a barrel

• $65 a barrel

• $85 a barrel

• $75 a barrel

What is a significant factor that could affect oil prices in the long term?

• Seasonal changes in weather

• Political changes in non-OECD countries

• Fundamental supply and demand dynamics

• Short-term market fluctuations

How is US shale best understood?

• As a government policy

• As a new type of oil

• As a technology for oil extraction

• As a renewable energy source

What is the long-term problem that might affect oil demand?

• Rising oil prices

• Increased oil production

• Peak oil demand

• Decreased oil reserves

What could peak oil demand lead to in the oil market?

• Stability in oil production

• Increased cooperation among producers

• A race to the bottom for market share

• Higher oil prices