Oil Markets Eye Tight Global Supplies

The video discusses the recent improvements in oil demand and the controlled supply side. It highlights the drop in US crude output due to weather events like the Texas polar blast and Hurricane Laura. The Texas freeze significantly impacted shale production, causing a temporary loss of millions of barrels. However, most of the production has since recovered, indicating a temporary disruption.

What recent change has been observed in the oil demand according to the transcript?

• Oil demand has decreased significantly.

• Oil demand is improving.

• Oil demand is unpredictable.

• Oil demand has remained constant.

What event caused a significant drop in US crude oil output?

• A flood in Louisiana.

• An earthquake in California.

• A polar blast in Texas.

• A hurricane in Florida.

How many barrels of oil were lost due to the Texas freeze?

• At least 2 million barrels.

• At least 4 million barrels.

• At least 6 million barrels.

• At least 8 million barrels.

What percentage of US oil production affected by the cold blast has been restored?

• 60%

• 80%

• 50%

• 70%

How long did the event affecting shale output last?

• About a week.

• About a year.

• About a day.

• About a month.