Sanford C. Bernstein's Beveridge On U.S. Oil Reserves

The video discusses the limited impact of releasing 50 million barrels of oil from the US strategic reserve, highlighting it as a geopolitical move rather than a solution to supply issues. It examines the role of OPEC and the potential for future market imbalances due to underinvestment in oil supply. The discussion also covers the expected market balance as demand decreases in winter and OPEC increases supply. The video concludes with forecasts of oil prices, predicting a rise above $100 per barrel by 2023 due to ongoing supply deficits.

How does the lack of confidence in long-term oil demand affect investment in new supply?

What are the implications of OPEC's spare capacity on future oil prices?

What are the expected trends in oil prices over the next 12 months according to the discussion?