Goldman's Currie Sees High Probability of OPEC Deal

The video discusses the current impatience in the market and the high probability of a sell-off due to weak technicals. It evaluates the scorecard of fundamentals, highlighting global demand, US GDP, and low-cost producers like OPEC and Russia. The US shale response is expected to increase production, but significant inventory draws are anticipated in the second quarter. Historical patterns suggest that patience may run out, leading to market adjustments. The video also addresses US crude storage challenges, particularly in Cushing.

What factors contribute to the high probability of a significant sell-off in the market?

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What historical patterns are observed regarding inventory draws and market reactions?

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How do global demand indicators affect the market outlook?

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What role do low-cost producers like OPEC and Russia play in the current market situation?

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Discuss the implications of US shale response on market dynamics.

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