Oil Rally Picks Up Steam as US Benchmark WTI Tops $90

The video discusses the rising oil prices driven by US and China consumption, technical factors like the Golden Cross, and supply cuts by OPEC leaders. It highlights inflation concerns due to increased fuel prices and the ongoing dispute between OPEC and IEA over fossil fuel dependency, projecting a significant supply deficit by the end of the year.

What technical indicator is mentioned as driving oil prices higher?

• Bronze Path

• Golden Ratio

• Golden Cross

• Silver Line

Which two countries are highlighted as the biggest consumers of oil?

• US and China

• Saudi Arabia and Russia

• US and Russia

• India and China

What is the potential consequence of continued supply cuts by OPEC leaders?

• Increased oil production

• Significant supply shortfall

• Stable oil prices

• Decreased demand for oil

What is the IEA's stance on the future of fossil fuels?

• Fossil fuels will see increased demand

• Fossil fuels will stabilize in price

• Fossil fuels will remain dominant

• Fossil fuels are becoming obsolete

What is the potential impact of abandoning fossil fuels according to OPEC?

• Economic stability

• Energy chaos

• Increased oil reserves

• Lower energy costs