Raymond James Analyst: Oil Could Reach $80 Next Year

The video discusses the oil industry's price trends and forecasts, highlighting that the industry does not need $80 per barrel to grow supply. It examines the supply glut and inventory trends, suggesting that global inventories are shrinking, which could lead to higher prices. The critique of the IEA forecasts points out discrepancies in demand and non-OPEC supply predictions. The video also provides insights into the OPEC meetings, suggesting that production agreements are more of a PR exercise and not the main issue for the oil market.

What is the expected price range for oil by the end of 2017 according to the speaker?

• $70

• $80

• $60

• $50

According to the speaker, what is the main issue with the weekly numbers from the Department of Energy?

• They are not released frequently enough.

• They are too optimistic.

• They represent only a small subset of global inventories.

• They are too detailed.

How does the speaker's forecast for oil demand in 2016 compare to the IEA's forecast?

• The speaker expects higher demand.

• The speaker expects lower demand.

• The speaker agrees with the IEA.

• The speaker has no opinion on demand.

What is the speaker's view on the potential impact of OPEC's production agreements?

• They are crucial for market stability.

• They will significantly increase production.

• They are irrelevant and mostly PR exercises.

• They will lead to a decrease in oil prices.

Why does the speaker believe that OPEC's pledge for stable production is meaningless?

• OPEC countries have no influence on global oil prices.

• OPEC countries are already producing as much as they can.

• OPEC countries are not producing at full capacity.

• OPEC countries are not interested in stable production.