Brent Seen at $69 Average in 2018, $63 in 2019, JPMorgan Says

The video discusses insights from a recent OPEC seminar in Vienna, highlighting a consensus on increasing oil production by 500,000 barrels per day. It examines the impact on oil prices, with forecasts suggesting a decrease in Brent prices. The analysis includes a detailed look at global cash break-even points for producers. Demand growth, particularly in China and the US, is explored, with no significant evidence of demand destruction despite higher prices. The video concludes with a discussion on potential production increases by Saudi Arabia and Russia, aiming for a consensus among OPEC members.

What evidence is there regarding demand destruction due to higher oil prices?

What is the expected outcome regarding production increases from Saudi Arabia and Russia?