Oil Could Hit $80 By Middle of 3Q, FGE's Fesharaki Says

The video discusses the impact of Iranian oil supply on the global market, highlighting the potential absorption of additional Iranian barrels and the role of OPEC in maintaining market stability. It examines global crude imbalances, with a focus on demand growth and inventory trends. The video also explores the mixed demand picture in Asia due to varying lockdowns, and the dynamics of OPEC meetings concerning production adjustments. Finally, it addresses the recovery of US demand and forecasts for oil prices, considering factors like Iranian elections and potential agreements.

What is considered a more significant risk in the oil market according to the discussion?

• The return of Iranian oil

• The demand picture

• OPEC+ production cuts

• US shale production

What could potentially cause oil prices to hit $75-$80 by the middle of the third quarter?

• Decreased demand in Asia

• OPEC+ increasing production

• Increased US shale production

• No Iranian shadow on the market

How is the demand situation in Asia described in the context of lockdowns?

• Demand is unaffected by lockdowns

• Lockdowns are causing a permanent decline

• Demand is steadily increasing

• The situation is mixed with temporary lockdowns

What is the main topic of discussion in the upcoming OPEC+ meeting?

• Expanding market share in Europe

• Increasing US oil imports

• Postponing additional volume due to Iranian oil

• Reducing production quotas

What is the expected impact of US sanctions on Iranian oil?

• Partial agreement allowing some exports

• Increased exports to Europe

• Complete halt of Iranian exports

• No impact on Iranian oil exports

What is the forecast for US oil demand during the summer driving season?

• Demand will decrease significantly

• Demand will see a substantial return

• Demand will be unpredictable

• Demand will remain stable

What is the potential price range for Brent crude in the next three to six months?

• $70-$80

• $60-$70

• $80-$90

• $50-$60