Statoil CEO Saetre Prepares for Rebalancing Oil Market

The transcript discusses the challenges and strategies in the oil industry, focusing on cost reduction, investment strategies, and market conditions. It highlights the importance of preparing for future market upturns and the role of volatility in decision-making. The discussion also covers the company's approach to hedging and financial strategy, as well as the potential for an OPEC agreement to impact oil production and prices.

What is the expected trend in oil prices according to the text?

What is the likelihood of an OPEC deal being reached in November as per the speaker's opinion?