Rebalancing Act: Why Oil's Road to Recovery Will Be Rocky

The video discusses the challenges faced by the oil market, including high inventory levels and seasonal trends. It highlights the impact of oil production levels, particularly by Saudi Arabia, and the effect on refinery margins. The discussion also covers market volatility, the potential for rebalancing, and the influence of new shale supply and non-OECD policies. The overall outlook suggests a mix of high and low volatility periods, with various macroeconomic factors contributing to future market dynamics.

What role does refinery utilization play in balancing the oil market?

What are the potential future trends in oil market volatility?