York: OPEC Cut a Change in Oil Supply and Demand

The video discusses recent developments in the oil market, focusing on OPEC's announcement of a potential production cut and its impact on market dynamics. It explores the challenges faced by OPEC in balancing the market amidst declining oil prices and the rise of US tight oil. The discussion also covers the effects of capital cuts in the upstream sector and the ongoing struggle to achieve market rebalance. Additionally, the video examines the future role of big oil companies and government involvement in the industry.

What is the speaker's view on the relationship between supply cuts and demand in the oil market?

What does the speaker suggest about the future of big oil companies in relation to government involvement?