Oil Market Still Flush With Inventory, Says FGE's Fesharaki

Oil Market Still Flush With Inventory, Says FGE's Fesharaki

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Business, Engineering

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The transcript discusses the potential impact of US sanctions on Venezuela and how it complicates OPEC's mandate. It highlights the challenges of finding markets for heavy Venezuelan oil and the current state of US shale production. The discussion also covers oil price trends, the impact of OPEC and non-OPEC agreements to cut production, and predictions for future oil prices. The market is expected to rebalance within three to six months, depending on compliance with production cuts.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What impact do US sanctions on Venezuela have on oil production and market dynamics?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the current inventory level affect the oil market according to the discussion?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the expected price levels for WTI and Brent if OPEC complies with production cuts?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What factors could influence the timeline for reaching the expected oil price levels?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

Discuss the potential consequences if OPEC does not fully comply with the production cuts.

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