BofA's Blanch Sees Inflection Point in Oil Market

The video discusses the current trends in the oil market, highlighting an inflection point driven by three key factors: monetary policy changes, China's economic stimulus, and OPEC+ coordination. It also explores reasons for previously depressed oil prices, including faster-than-expected rate hikes, increased Russian oil supply, and a weak Chinese economy. These factors are now shifting, potentially impacting future oil prices.

What were the reasons for the oil price being depressed in the months leading up to late May, early June?

What changes are starting to occur in the factors affecting the oil market as mentioned at the end of the text?