Morning Meeting: What's Next for Oil?

The video discusses the impact of Brexit on the oil market, noting that while Brexit poses some risk, it is containable. The market is experiencing a balance due to non-OPEC supply declines and strong demand growth, particularly in Asia. China and India are key players, with India showing significant growth. The US dollar's strength may slightly reduce demand. Non-OPEC supply, especially from the US and Latin America, is declining, but potential supply increases from Canada and Nigeria could affect prices. Overall, the market is expected to stabilize with oil prices supported at $50 per barrel by the fourth quarter.

What is the expected impact of Brexit on oil demand according to the transcript?

• It will have no impact on demand.

• It will cause a major decline in demand.

• It will have a moderate impact on demand growth.

• It will significantly increase demand.

How does the US dollar affect Chinese oil demand?

• A stronger US dollar increases Chinese demand.

• A stronger US dollar decreases Chinese demand.

• The US dollar has no effect on Chinese demand.

• A weaker US dollar decreases Chinese demand.

Which country is expected to lead in oil demand growth according to the transcript?

• China

• United States

• India

• Brazil

What is the potential downside for oil prices if non-OPEC supply comes back online?

• Prices could remain stable at $50 per barrel.

• Prices could rise to $60 per barrel.

• Prices could fall below $40 per barrel.

• Prices could drop to $45 to $43 per barrel.

What is the expected support level for crude oil prices by the fourth quarter?

• $55 per barrel

• $45 per barrel

• $50 per barrel

• $60 per barrel