Oil Surge Eases Following Saudi Attack

The video discusses the defense of Saudi oil refineries post-2019 attacks and the potential impacts of disruptions in the Persian Gulf on global oil supply, particularly affecting Asian refiners. It explores factors influencing oil prices, including production and demand concerns, and highlights the spare capacity in the market. The cautious production strategy of OPEC is examined, along with the outlook on US shale production and its potential growth.

Discuss the role of spare capacity in the oil market and its implications for pricing.

In what ways could US production of oil be affected in the coming years?