Oil Rises to Six-Month High

The video discusses the current state of oil markets, focusing on declining US stockpiles and production, OPEC's strategy to maintain market share, and various global factors affecting supply, such as wildfires in Canada and unrest in Nigeria. It highlights Iraq's near-record production despite internal challenges and the potential for market tightening due to supply disruptions. Analysts suggest that Iraq and Iran may not sustain their production growth, which could impact global oil supply and demand dynamics.

What are the potential consequences if Iraq cannot maintain its oil production levels?

Discuss the implications of the outages in Nigeria on the oil market.