BofAML's Blanch Sees a Range-Bound Oil Market

The video discusses the fluctuating oil market, focusing on the credibility of OPEC and the impact of supply cuts. It highlights the price range of WTI and Brent crude, noting the influence of US shale production. Geopolitical factors, such as tensions in Venezuela and Iran, are considered potential disruptors, possibly adding $5 per barrel. The video concludes with an analysis of market risks and the role of OPEC, emphasizing the competitive nature of oil pricing and the influence of US producers.

What is the expected average price for WTI this year according to the discussion?

• $47

• $40

• $55

• $60

What is the expected impact on supply if oil prices rise to $55 or $60 per barrel?

• Supply will remain constant

• Supply will be unaffected

• Supply will decrease

• Supply will increase

Which geopolitical factor is NOT mentioned as influencing oil prices?

• Iran

• Venezuela

• North Korea

• Saudi-Qatari relations

How might US shale producers respond if oil prices reach the $50-$55 range?

• Decrease production

• Increase production

• Maintain current production levels

• Stop production

What could add an extra $5 to the price of a barrel of oil?

• OPEC's supply cuts

• Refining maintenance

• Geopolitical tensions

• Increased US production