Bernstein's Beveridge on Energy Markets

The video discusses the impact of the Russian invasion of Ukraine on global oil prices, predicting higher short-term prices due to increased risk premiums. It also examines the effects of China's lockdowns on oil demand, noting a reduction in mobility but not a negative demand growth. The challenges of China's domestic oil production are highlighted, with high costs and limited growth potential. The role of US shale in global oil supply is explored, emphasizing the need for OPEC to balance reduced Russian exports and increased demand.

What challenges does China face in increasing its domestic oil production?

Discuss the implications of U.S. shale production on the oil market as mentioned in the text.