Oil Prices Continue 2018 Climb as U.S. Stockpiles Fall

The video discusses oil price expectations, focusing on historical forecasting methods and current market dynamics. It analyzes stockpiles, production trends, and the impact of market disruptions, such as geopolitical factors and pipeline issues. The discussion includes recent oil price movements, investment strategies, and the risks associated with Venezuelan production and shale underperformance. The video emphasizes the importance of capital discipline and the potential for strong growth in shale production.

What are the expectations that Michael is building on regarding oil prices?

How does the removal of capital expenditure (cap ex) impact the oil market?

What factors contribute to the forecast of oil prices reaching $85 in 2018?

Discuss the significance of Venezuelan production on the oil market forecasts.

What does the term 'capital discipline' imply for shale production in the coming year?