Oil Prices Still Under Pressure

The video discusses recent trends in the oil market, focusing on crude draw, the Strategic Petroleum Reserve, and gasoline builds driven by imports. It highlights refinery operations and capacity utilization, noting a rise to 75% due to midcontinent recovery. Export trends are examined, with pressure expected from increased production in Nigeria, Iraq, and Libya. The video concludes with a market outlook, predicting downward pressure on oil prices.

What was a significant factor contributing to the gasoline build mentioned in the video?

• Increased domestic production

• Increased imports

• Decreased refinery output

• Higher demand for gasoline

What is the expected trend for crude utilization rates as discussed in the video?

• Increase to 80%

• Remain stable at 75%

• Decrease to 70-72%

• Fluctuate between 60-65%

Which country is NOT mentioned as increasing its crude production in the video?

• Libya

• Iraq

• Saudi Arabia

• Nigeria

What is the impact of increased global production on Cushing as discussed in the video?

• It will put pressure on Cushing

• It will lead to a surplus

• It will stabilize the market

• It will decrease oil prices

What is the anticipated effect on oil prices due to the factors discussed in the video?

• Prices will remain stable

• Prices will fluctuate unpredictably

• Prices are expected to rise

• Prices will face downward pressure