Oil Prices Will Ultimately Need to Go Higher, Says Morgan Stanley’s Rats

The video discusses the current state of oil prices, influenced by OPEC's production decisions and global demand trends. It highlights supply risks in countries like Iran and Venezuela, and demand weaknesses, particularly in the OECD. The second half of the year typically sees increased demand, but electric vehicles pose a long-term threat to oil demand. However, this threat is not immediate, and oil companies must consider it in their long-term investment strategies.

In what ways could electric vehicles impact future oil demand?

What role does capital expenditure play in the oil industry's response to electric vehicle threats?