OPEC Cut Extension Was Priced In, Says FGE’s Fesharaki

The video discusses the current state of the oil market, focusing on OPEC's role in stabilizing prices. It highlights the impact of US oil production, which limits OPEC's influence, and examines the factors affecting oil price trajectories, including geopolitical tensions and supply-demand dynamics. The discussion also covers OPEC Plus's strategy to manage excess supply and maintain market balance, with references to political influences from leaders like Trump and Putin.

Discuss the implications of geopolitical tensions on oil prices as mentioned in the text.

What does the term 'balance' refer to in the context of oil inventories and pricing?