Morse: OPEC Deal Won't Change My Forecasts

The transcript discusses the impact of OPEC's decisions on oil prices, forecasting a range of $40 to $50 per barrel, with potential increases depending on winter weather. It highlights the decline in non-OPEC production and the conditions under which US shale producers might resume drilling. The US oil rig count is rising, but significant growth requires more rigs. The upcoming OPEC meeting will address production targets, with Iran's role being a focal point.

What is the expected trading range for oil prices in the second half of the year?

• $60 to $70 a barrel

• $50 to $60 a barrel

• $40 to $50 a barrel

• $30 to $40 a barrel

What is the revised price point at which US shale producers might start drilling again?

• $50

• $55

• $60

• $45

How many additional oil rigs does the US need to significantly boost production growth?

• 400 rigs

• 100 rigs

• 200 rigs

• 300 rigs

What is the range of production targets discussed for OPEC's upcoming meeting?

• 31 to 32 million barrels a day

• 33 to 34 million barrels a day

• 30 to 31 million barrels a day

• 32.5 to 33 million barrels a day

Which country is perceived as a big winner in the OPEC discussions, despite uncertainties?

• Iran

• Nigeria

• Venezuela

• Saudi Arabia