30% Chance Oil Hits $100 a Barrell, Schork Says

Stephen Schork discusses the dynamics of the oil market, highlighting the impact of scarcity and decarbonization efforts on oil prices. He explains how OPEC's cautious production strategy and historical trends influence current market conditions. Rising production costs and inflation are also addressed, along with challenges in the European natural gas market due to geopolitical tensions and supply issues.

What lessons have oil producers learned from past market fluctuations?

How have geopolitical tensions affected the European natural gas market?

What are the expected trends for oil prices in the upcoming months according to the discussion?