How Are Markets Reacting to OPEC's Meeting?

The video discusses the influence of OPEC on oil prices, predicting a rise to $60-$70 by the end of the year. It explores the microeconomic factors necessary for market clearing, such as inventory draws and production changes. The role of marginal OPEC players like Nigeria and Venezuela is examined, along with the strategies of major oil companies like Shell in adapting to market conditions.

What are the expected price forecasts for oil by the end of the year and next year?

Who are considered the marginal players within OPEC, and what impact could their collapse have?