Oil Prices Poised to Move Higher, Vitol CEO Says

The video discusses the oil market dynamics, focusing on the impact of geopolitical issues in Iran and Venezuela, and the role of OPEC and OPEC Plus in managing supply and demand. It highlights the challenges faced by refiners due to a shortage of heavy crude and the potential future supply increase from the US. The discussion also covers the implications of sanctions on Venezuela and the strategic decisions OPEC Plus must make in response to changing market conditions.

What challenges does OPEC face in managing the oil market with the absence of Iranian and Venezuelan barrels?

What are the implications of a potential increase in US crude supply on the global oil market?

How does the current economic picture influence oil demand forecasts?