Goldman's Currie Expects 'Very Violent' Rebalancing Process in Oil

The video discusses the current state of oil production, highlighting the need for production cuts due to storage capacity constraints. It predicts significant global production cuts in the coming weeks, leading to a potential market deficit by early summer. The discussion also covers the expected volatility in oil prices as the market rebalances, with prices spiking downwards to remove excess supply before stabilizing.

What is the current reduction in oil production in the US?

• 3 million barrels per day

• 2 million barrels per day

• 4 million barrels per day

• 1 million barrels per day

What is expected to happen when global storage capacity is reached?

• Increase in oil prices

• Decrease in oil production

• Increase in oil demand

• Stabilization of oil prices

When is the oil market expected to potentially be in a deficit?

• By July

• By the end of May

• By the end of April

• By June

What is the expected market condition during the rebalancing process?

• Stable prices

• Gradual price increase

• Significant price volatility

• Consistent price decrease

What happens to prices when supply is cut out of the market?

• Prices spike upwards

• Prices remain unchanged

• Prices continue to fall

• Prices stabilize