Goldman's Courvalin: Physical Oil Market Remains Tight

The transcript discusses the concept of demand destruction and its impact on oil prices, particularly Brent. It highlights the market's current deficit and the resilience of demand indicators. The upcoming OPEC meeting and potential economic slowdown are noted as factors that could influence the market. Despite these, aggregate demand remains above supply, necessitating price adjustments. The physical oil market is tight, with physical Brent trading at a high premium.

What is the significance of the price level mentioned for Brent oil?

In what ways are demand indicators described as resilient despite economic challenges?