MKM Economist Darda Sees Supply Side Issue in Oil

The video discusses the diplomatic studies of Robert Hormats and Michael Darda, focusing on the analysis of Brent crude oil prices in relation to industrial metals. It highlights the supply-side issues affecting crude oil and its lag in comparison to industrial metals. The discussion then shifts to the diplomatic relations with Iran, emphasizing the importance of retaining the JCPOA nuclear agreement to maintain alliances and avoid military conflicts. The potential consequences of dismissing the agreement, such as reimposing sanctions and disrupting regional stability, are also explored.

What role does OPEC play in the context of the discussion on crude oil and global economics?

What are the implications of Congress potentially reimposing sanctions on Iran as discussed?