$60 a 'Reasonable Floor' for Oil, Vanda Insights Says

The transcript discusses the evolving dynamics between OPEC and Russia, highlighting their collaboration and its impact on market management. It explores the influence of OPEC, the tightness of the oil market, and inventory concerns. The discussion also covers supply dynamics, demand uncertainty, and the trajectory of oil prices, considering factors like US production and geopolitical influences.

What was the compromise reached between Russia and Saudi Arabia in December regarding production cuts?

• Saudi Arabia agreed to cut 150,000 barrels per day, and Russia agreed to cut twice that amount.

• Russia agreed to cut 150,000 barrels per day, and the compromise was a number in between.

• Russia agreed to cut 150,000 barrels per day, and Saudi Arabia agreed to cut twice that amount.

• Both countries agreed to cut 300,000 barrels per day.

How has the collaboration between OPEC and non-OPEC countries affected OPEC's market influence?

• It has had no impact on OPEC's influence.

• It has made OPEC dependent on non-OPEC countries.

• It has doubled OPEC's power to influence the markets.

• It has reduced OPEC's influence significantly.

What is the main concern of the Saudi Energy Minister regarding the current market?

• The market is oversupplied with inventories.

• The market is too tight to reverse production cuts.

• The market prices are too high for consumers.

• The market demand is growing too fast.

What is the main factor affecting the dynamics of supply in the oil market?

• Iran sanction waivers

• Venezuelan production

• US production levels

• All of the above

What is the consensus on demand growth for 2019 compared to 2018?

• Unpredictable growth rate

• Same growth rate

• Lower growth rate

• Higher growth rate

What is the expected range for oil prices in the next 6 to 9 months?

• $50 to $60

• $80 to $90

• $60 to $70

• $70 to $80

What external factor is mentioned as putting pressure on OPEC to pump more oil?

• Middle Eastern conflicts

• European Union regulations

• Donald Trump's tweets

• Chinese market demands