Kevin Norrish: OPEC Deal Looks Difficult to Achieve

The video discusses the complexities of reaching an OPEC deal, highlighting the roles of Iran, Saudi Arabia, and Russia. It examines global oil demand and supply trends, noting that demand is strong, especially in Asia, while supply is adjusting. The discussion emphasizes Iran's influence in OPEC and the challenges of negotiating production constraints, given the lack of a quota system since 2008. The market is rebalancing faster than expected, even without an OPEC cut, but Iran's production goals remain a sticking point.

What does the International Energy Agency's recent demand forecast indicate?

In what ways is the market described as rebalancing, even without an OPEC cut?