BofA's Blanch: Oil Could Hit $70

The video discusses OPEC's strategy to reduce oil inventories by 300 million barrels and the potential impact of a border adjustment tax on emerging markets. It highlights the risks of demand growth slowing and the effects of currency fluctuations on market stability. The video also examines the implications of a US border tax on commodity prices and the long-term outlook for the oil market amid trade barriers and fiscal policies.

What is OPEC's target for reducing oil inventories across the OECD?

• 400 million barrels

• 200 million barrels

• 100 million barrels

• 300 million barrels

How much of the oil demand growth is attributed to emerging markets?

• 100%

• 75%

• 50%

• 90%

What could potentially alter the forecast of oil prices reaching $70?

• Stable emerging markets

• Increased US oil production

• Decreased global oil demand

• Fragile emerging market outlook

What is the expected increase in domestic oil prices due to a border tax?

• 5-10%

• 10-15%

• 20-25%

• 30-35%

What is a potential consequence of trade barriers on emerging markets?

• Increased oil demand

• Stable currency values

• Economic recession

• Higher commodity prices