More Bullish Signals For Oil as Aramco Raises Prices

The video discusses the strong demand for oil in Asia, where Saudi Arabia sends 60% of its crude exports. Prices have been raised globally, indicating a bullish market. The concept of backwardation is explained, highlighting its impact on trading strategies and market conditions.

What percentage of crude exports do the Saudis send to Asia?

What was the market reaction to the price increase by the Saudis?

What does the speaker suggest about the future of oil markets?

What does the term 'backwardation' indicate in the oil market?

Who commented on the levels of backwardation and what was their warning?