What to Expect From Crude After Rising to 2-Week High

The video discusses recent trends in the oil market, highlighting a rise in oil prices to a two-week high in New York. Jeffrey Brown, President of Fge, forecasts oil prices reaching $70 per barrel by the fourth quarter, with potential increases to $75 or $80 if OPEC, particularly Saudi Arabia and Russia, maintain their current strategy. The discussion also touches on the possibility of OPEC's cohesion being tested if prices rise significantly, with historical instances of slippage and cheating at high price levels. The impact of reduced Venezuelan production and increased demand is also noted as factors tightening the market.

What price per barrel does Jeffrey Brown predict for oil by the fourth quarter?

• $80

• $70

• $90

• $60

According to the transcript, which two countries are crucial in determining the oil price strategy?

• China and India

• Brazil and Mexico

• USA and Canada

• Saudi Arabia and Russia

What is the potential price range for oil if the current strategy continues?

• $75 to $80

• $60 to $65

• $80 to $85

• $65 to $70

What factor has helped tighten the oil market according to the transcript?

• Increased production in the USA

• Venezuelan production drop

• Decreased global demand

• New oil discoveries

What potential risk is associated with OPEC's current strategy?

• Increased competition from renewable energy

• OPEC falling apart

• Decreased oil quality

• Rising production costs