Why Oil Prices Are Headed Higher: Avenue's Bill Harris

The video discusses the impact of global events on the oil market, focusing on Suncor's position amidst challenges in Fort McMurray. It highlights the influence of disruptions in Venezuela, Nigeria, Libya, and Saudi Arabia on oil supply and prices. The speaker outlines a framework for understanding the balance of supply and demand, noting strong demand and reduced capital expenditure as key factors. The goal is to achieve market balance in the near future.

In what way does the speaker believe the market looks through current events affecting oil prices?

What does the speaker suggest about the recent trends in capital expenditure in the oil industry?