Venezuela's Del Pino Sees Oil at $60-$70 on Inventories

The video discusses the impact of a recent oil deal on prices, highlighting Venezuela's economic dependency on oil. It covers negotiations with Russia, leading to a shift from freezing to cutting production. The video also explores global cooperation among oil-producing countries and the influence of US shale production on market dynamics.

What is the significance of the inventories in relation to oil prices?

How do seasonal changes affect oil production decisions?

What are the implications of US shale production if oil prices rise?