Citi's Morse Sees Oil Market in Surplus at End of 2022

The video discusses the potential impact of WTI prices on the oil industry, highlighting that while high prices could encourage drilling, they may not be sustainable. The Devon CEO's perspective on private and public drilling trends is explored, along with the significance of the Permian Basin's oil reserves in the context of the energy transition. The discussion shifts to supply and demand dynamics, emphasizing the role of the Western Hemisphere in oil production and the potential implications for OPEC's strategies.

How does the speaker view the relationship between supply and demand in the current oil market?

What potential actions might OPEC take in response to inventory builds, according to the discussion?