JPM’s Kemery Says Concerns About Oil Glut Premature

The video discusses the current state of the oil market, focusing on rising inventories and the impact of OPEC's supply cuts. It highlights the sustainability of inventory drawdowns due to seasonal refinery runs and increased demand. The market is rebalancing, with investment opportunities in a range-bound market. The global oil balance forecast suggests continued drawdowns, with price predictions for WTI and Brent by year-end.

What predictions are made regarding the future prices of WTI and Brent oil?

How does the speaker view the relationship between current oil prices and market rebalancing?

What are the implications of the global oil balance forecast presented in the discussion?