Can Oil Producers Handle a $70 Per Barrel Price?

The video discusses Goldman Sachs' revised forecast for oil prices, predicting a drop to $70 by mid-2015. It explores how oil and gas companies should respond, emphasizing the importance of focusing on core assets. The discussion highlights the economic viability of oil at $70, comparing it to past downturns, and considers geopolitical factors affecting the market. Differing opinions on future oil prices are presented, with a focus on economic growth and demand.

What was the revised oil price forecast by Goldman Sachs for mid-2015?

• $70

• $60

• $50

• $80

How do oil and gas companies typically respond to price overshoots?

• By increasing their marketing efforts

• By reducing their workforce

• By focusing on their core assets

• By expanding their operations

What makes the current oil market downturn different from the 2008-2009 downturn?

• It is more understandable and healthier

• It is driven by technological advancements

• It is caused by a lack of demand

• It is more severe

What is Chris's view on the future of oil prices?

• They will remain stable

• They will rise significantly

• They will drop much lower

• They will not drop much further

According to Chris, what could help absorb the excess oil supply?

• Increased oil production

• Economic growth in the U.S. and other markets

• Decreased oil consumption

• Government intervention