Goldman's Courvalin Sees Another Leg Higher for Oil Prices

The video discusses the current state of the oil market, highlighting excess inventory and spare capacity issues. It predicts a significant increase in oil demand as the world reopens, leading to a tighter market and higher prices. OPEC's role in managing supply is crucial, and various scenarios for Brent crude prices are explored, with a forecast of $75. Risks such as vaccine inefficiency and demand recovery are considered, along with the impact of underinvestment. The potential for higher prices next year is emphasized, especially if demand exceeds expectations or if Iran's oil supply remains limited.

What is the current issue in the oil market according to the video?

• Lack of demand

• Excess inventory and spare capacity

• High production costs

• OPEC's overproduction

What is the predicted price of Brent crude in the future?

• $85

• $75

• $65

• $50

Which factor is considered a risk to the oil market recovery?

• OPEC's intervention

• Stable demand

• Increased production

• Vaccine inefficiency

What could cause a larger than expected demand recovery?

• Rapid vaccination logistics

• Increased oil prices

• Slow vaccination logistics

• Decreased economic activity

How might Iran's oil production affect future oil prices?

• It could increase prices to $85 and above

• It will have no effect

• It will lower prices

• It will stabilize prices