Bernstein's Beveridge On Outlook For Oil

The transcript discusses the impact of the Russian invasion of Ukraine on oil prices, predicting a price floor around $90 per barrel due to market oversupply. It anticipates a potential rise to $120 per barrel next year, driven by demand growth and underinvestment in the industry. The surge in natural gas prices is leading some customers to switch to oil, affecting demand. China's energy demand remains weak due to COVID lockdowns, but growth is expected to resume in 2023. LNG and coal prices in Asia are high, with Europe competing for LNG supply. The energy supply crunch is expected to last into 2023, with relief not anticipated until 2024 or 2025.

What impact do COVID policies in China have on energy demand?

What challenges are faced in increasing LNG supply in the near future?

What is the expected duration of the energy supply crunch according to the speaker?