Goldman Says Commodity Demand Environment in China is ‘Dire’

The video discusses the impact of the coronavirus on global oil demand, highlighting a significant drop for the first time in over a decade. It examines China's economic influence, the mysterious nature of oil storage, and compares oil with other commodities like natural gas and steel. The discussion includes market dynamics such as contango and backwardation, and speculates on OPEC's potential actions in response to conflicting market signals.

What does the term 'contango' mean in the context of oil markets?

How might OPEC's actions influence oil prices and demand?

What role does stimulus from local governments in China play in the oil market?