Crude Oil Gets Left Behind From Risk Off Rally

The video discusses the crude oil market, highlighting its data dependency and equilibrium state. It reviews the oversupply situation from 2015 and current supply disruptions in Nigeria and Venezuela, partially offset by Iran. The speaker predicts short-term price movements, expecting a range between $46 and $55, influenced by global demand trends and CapEx reductions. The video concludes with future price expectations and market strategies, considering potential supply disruptions.

What was the estimated oversupply of crude oil in 2015?

• 4.0 million barrels a day

• 1.5 million barrels a day

• 2.1 million barrels a day

• 3.0 million barrels a day

Which countries are mentioned as having supply disruptions affecting crude oil prices?

• Saudi Arabia and Russia

• Iraq and Kuwait

• Nigeria and Venezuela

• Canada and Mexico

What is the expected short-term price level for crude oil according to the discussion?

• $50

• $46

• $40

• $60

What is the anticipated price level where people might start taking short positions?

• $50

• $52

• $60

• $55

What is a significant factor that is not expected to change soon, affecting global demand?

• Rise in electric vehicle sales

• Massive reduction in CapEx

• Decrease in industrial activity

• Increase in renewable energy