Citi: "Black Gold" a Better Hedge Than Gold

The video discusses the current state and future outlook of the oil market. It highlights the high market positioning by money managers and the role of oil as a hedge against Brexit. Current concerns include high gasoline inventories and refining margins. However, a long-term bullish scenario is anticipated due to significant cuts in capital expenditures and project cancellations. Brexit is seen as having minimal impact on global oil demand, with a potential future where demand overtakes supply.

In what ways is Brexit perceived to affect global oil demand?

What does the term 'pinch point' refer to in the oil market?