How Shale Oil Impacts the Range in Price of Oil

The video explores the changing dynamics of the oil market, focusing on the correlation between the stock market and oil, the impact of shale production, and OPEC's role. It highlights how shale oil can be quickly adjusted, creating a flexible oil price corridor. Despite changes, OPEC remains influential, though its dynamics have shifted. The discussion includes geopolitical factors like Nigeria's instability affecting oil supply.

What role does OPEC still play in the global oil supply according to the speaker?

What are the implications of the changing dynamics of oil supply for OPEC's relevance?