Citi’s Morse Sees Oil Rebounding to $45 by End of 2020

The video discusses the near-term bearish outlook for the oil market, focusing on supply and demand dynamics influenced by the COVID-19 pandemic. It highlights the role of OPEC in maintaining discipline and the impact on pricing, predicting a significant inventory draw and price increase in the third quarter. Despite potential reoccurrences of COVID-19, the market is expected to stabilize with higher prices by the end of the year, though uncertainties remain.

What is the main factor causing uncertainty in the oil market according to the speaker?

• The development of new oil extraction technologies

• The amount of supply returning when prices rebound

• The political stability in oil-producing countries

• The level of demand for electric vehicles

What is expected to happen to oil demand as the coronavirus pandemic eases?

• It will fluctuate unpredictably

• It will remain stable

• It will increase

• It will decrease significantly

What is the predicted price of Brent crude oil in the third quarter?

• $35

• $45

• $25

• $17

What is the expected impact of a massive inventory draw in the third quarter?

• An increase in oil prices

• No change in oil prices

• A decrease in oil prices

• A stabilization of oil prices

By the end of the year, what price range is expected for Brent crude oil?

• $20-$25

• $30-$35

• $50-$55

• $40-$45