Oil Analyst Streible Says Three Factors Can Lead to a Market Rally

The video discusses the current state of the oil market, highlighting that despite significant changes in inventory levels, oil prices remain stable. Phil Streible from Rjo Futures explains that three main factors could trigger a rally in crude oil prices: a US-China trade deal, a decrease in oil production as indicated by a low rig count, and tighter inventories, particularly in Cushing. The video emphasizes the importance of these factors in potentially driving oil prices higher as the driving season approaches.

What does the inventory data indicate about the current state of oil supplies?

What could happen to oil prices as we approach the driving season according to the speaker?