Sanford C. Bernstein: Oil in Deficit in 1H of 2017

The video discusses the oil market's transition into a deficit in 2017 due to OPEC and non-OPEC production cuts. It highlights the importance of compliance and coordination among countries, particularly Saudi Arabia, Russia, and the Gulf States. The response of US shale producers is also examined, noting potential production increases if oil prices rise. OPEC's shift from market share to price maximization is explored, along with the long-term implications for oil prices and demand growth.

How has the mindset of OPEC changed according to the speaker?

What are the potential implications of the oil market dynamics discussed for the global economy?

What does the speaker imply about the future price of oil and its relation to shale production?