Oil Market Very Sketchy, Volatile, Equinor's Waerness Says

The video discusses the current volatility in the oil market, influenced by factors such as sanctions on Iran, trade wars, and limited spare production capacity. It highlights the uncertainty in predicting oil prices, with potential fluctuations between $60 and $100 per barrel. The discussion also covers the dynamics of supply and demand, noting the impact of geopolitical factors and economic growth on oil production and consumption.

What are some factors contributing to the current volatility in the oil market?

• Decreased demand and increased output

• High storage levels and increased production capacity

• Normal storage levels and limited spare production capacity

• Stable geopolitical conditions

What could potentially dampen the demand for oil in the longer term?

• Higher storage levels

• A more serious trade war

• Increased production from Iran

• Decreased geopolitical tensions

What is the likelihood of oil prices reaching $100 according to the discussion?

• It will definitely fall to $60

• It is impossible to reach $100

• It is certain to reach $100

• It cannot be excluded that it will pass through $100

What are some fast-moving variables affecting oil prices?

• Economic growth and demand

• Sanctions and supply disruptions

• Storage levels and production capacity

• Trade agreements and tariffs

What is the current state of the underlying demand growth for oil?

• It is unpredictable and fluctuating

• It is declining rapidly

• It is stable with no growth

• It is good with over 100 million barrels per day