Oil Prices Don't Fully Reflect Supply Risks, Says Vitol

The video discusses the recent factors influencing oil prices, including the U.S. release of oil reserves, COVID-19 cases in China, and potential disruptions from Russia. It also covers the challenges faced by European nations in reducing dependency on Russian natural gas due to rising raw material costs, impacting their energy infrastructure plans.

What was one of the major actions taken by the U.S. to influence oil prices recently?

• Cutting down on domestic oil production

• Imposing tariffs on foreign oil

• Releasing oil from strategic reserves

• Increasing oil imports from the Middle East

What factor is contributing to the uncertainty in oil supply from Russia?

• Increased domestic consumption in Russia

• Geopolitical tensions

• Technological advancements in oil extraction

• Natural disasters affecting oil fields

What is one of the main challenges faced by the European Union in reducing its dependency on Russian natural gas?

• Lack of political will

• Rising costs of raw materials

• Insufficient renewable energy resources

• Opposition from member states

Which country is planning to build two LNG terminals as part of its energy strategy?

• Spain

• United Kingdom

• Germany

• France

What is the European Union's long-term plan to address energy challenges by 2030?

• Import more oil from the Middle East

• Build renewable energy resources

• Expand nuclear energy facilities

• Increase coal production