Oil May Break Below $20, Stratas Advisors Says

The video discusses the current state of the oil market, highlighting the unique situation of increasing supply and decreasing demand. It predicts oil prices dropping below $20 per barrel, a scenario more severe than past oil shocks. The resilience of US shale producers is emphasized, despite potential economic impacts. The video also explores the challenges of balancing the market through production cuts, drawing parallels to past efforts by Saudi Arabia. The need for structural changes in production is highlighted to achieve market equilibrium.

What historical context is provided regarding Saudi Arabia's attempts to balance the oil market?

What challenges are mentioned regarding balancing the oil market through unilateral production cuts?