U.S. Oil Production to Self-Correct to 11 Million Barrels: Tom Petrie

The video discusses the dynamics between Saudi Arabia and Russia, focusing on their cooperation and its breakdown. It highlights the historical context of their relationship, particularly the 'Thanksgiving surprise,' and how they aimed to influence the supply curve. The video also examines the impact of US oil production on the market and the potential for self-correction. The near-term effects of these dynamics are considered beneficial for Russia, despite poor long-term prospects.

What impact did the non-cooperation by Russia have on Saudi Arabia's actions?

What was the initial goal of the cooperation between Russia and Saudi Arabia?

How did the relationship between Saudi Arabia and Russia change over time?

What does the speaker believe about the US's ability to adjust oil production?

What are the long-term prospects of Russia's strategy according to the speaker?