Morse: OPEC Deal Won't Change My Forecasts

The transcript discusses the impact of OPEC's decisions on oil prices, forecasting a range of $40 to $50 per barrel, with potential increases depending on winter weather. It highlights the decline in non-OPEC production and the conditions under which US shale producers might resume drilling. The US oil rig count is rising, but significant growth requires more rigs. The upcoming OPEC meeting will address production targets, with Iran's role being a focal point.

What factors could lead to a change in the price forecast for oil?

What is the expected price range for Brent oil by the fourth quarter of 2017?

How does the production of non-OPEC countries affect the oil market?

What is the significance of the number of oil rigs in the US?

What commitments must Iran make for the Saudis to agree on production levels?