Demand Confidence to Push Oil Prices, Analyst Sen Says

The video discusses the strong demand and robust refining margins despite a crude rally, highlighting the impact of a US cold snap on heating oil prices. It reassures that the worst of COVID may be over, with Omicron fears less severe than anticipated. The supply has been lagging behind demand, with dwindling spare capacity and no excess inventory, leading to potential price increases. OPEC's production increase is less than expected, with countries like Nigeria and Angola struggling due to lack of investment, while Saudi Arabia, UAE, Kuwait, and Iraq are the main sources of production growth.

What factors are contributing to the strong demand in the oil market?

How have heating oil cracks changed recently, and what does this indicate?

What is the current state of supply in relation to demand in the oil market?

What challenges are countries like Nigeria and Angola facing in oil production?

Which countries are currently looked upon for production growth in the oil market?