Goldman's Courvalin: Physical Oil Market Remains Tight

The transcript discusses the concept of demand destruction and its impact on oil prices, particularly Brent. It highlights the market's current deficit and the resilience of demand indicators. The upcoming OPEC meeting and potential economic slowdown are noted as factors that could influence the market. Despite these, aggregate demand remains above supply, necessitating price adjustments. The physical oil market is tight, with physical Brent trading at a high premium.

What was the forecasted price for Brent oil mentioned in the video?

• $180

• $160

• $140

• $120

Which event in July could potentially impact the oil market?

• OPEC meeting

• Introduction of new oil regulations

• A new oil discovery

• A major oil spill

What does the video suggest about the relationship between aggregate demand and supply?

• Supply is increasing rapidly

• Demand is above supply

• Demand equals supply

• Demand is below supply

How does the video describe the physical oil market despite a drop in Brent prices?

• Stable

• Oversupplied

• Declining

• Very tight

What is the function of prices in the oil market according to the video?

• To stabilize the economy

• To decrease supply

• To close the gap between demand and supply

• To increase demand