Goldman's Courvalin Sees Another Leg Higher for Oil Prices

The video discusses the current state of the oil market, highlighting excess inventory and spare capacity issues. It predicts a significant increase in oil demand as the world reopens, leading to a tighter market and higher prices. OPEC's role in managing supply is crucial, and various scenarios for Brent crude prices are explored, with a forecast of $75. Risks such as vaccine inefficiency and demand recovery are considered, along with the impact of underinvestment. The potential for higher prices next year is emphasized, especially if demand exceeds expectations or if Iran's oil supply remains limited.

How does the speaker describe the potential impact of Iran's oil production on Brent prices?

What does the speaker imply about the relationship between underinvestment and future oil prices?