Opec+ Sees 2021 Oil Deficit, 2022 Surplus

The video discusses the expectations and potential surprises from the OPEC+ meeting regarding oil production. It highlights internal frictions within OPEC+ and how they have been managed, particularly between the UAE and Saudi Arabia. The video also covers oil price projections, with differing views from UBS and Bloomberg, and factors affecting these projections, such as supply and demand dynamics. Additionally, it explores the impact of US shale technology and the concept of peak oil demand, which could lead to significant market changes.

What is the expected addition in oil production mentioned in the text?

What are the market expectations regarding oil prices according to the text?

What is the biggest source of friction within OPEC as discussed in the text?

How has OPEC managed internal cohesion since April 2020?

What price range is mentioned as acceptable for oil prices in the text?

What are the long-term implications for US shale output mentioned in the text?

What does the text suggest about peak oil demand and its potential impact?