Citigroup's Morse: The Oil Market Is Coming to a Balance

The video discusses the current state of the oil market, highlighting expected inventory draws and the impact of supply disruptions. It examines the effects of WTI prices on shale production and rig utilization, noting that significant increases in production are unlikely until prices reach $60 per barrel. The discussion also covers global supply dynamics, including the potential for deepwater drilling to influence prices. OPEC's diminished role in stabilizing the market is addressed, leading to increased volatility and uncertainty about future production levels.

What are the expected trends in oil inventory for the next six quarters?

How does the increase in rig utilization in the US affect market perceptions?

What factors could lead to a significant increase in US oil production?

What role does OPEC play in the current oil market dynamics?

What are the implications of the US being tested as a swing supplier in the oil market?