Keystone Pipeline Outage Adds to Oil Volatility

The video discusses a pipeline outage and its potential impact on the volatile oil market. It highlights the frequency of pipeline leaks, particularly with Keystone, and the geopolitical factors influencing oil prices, such as the war in Ukraine and proposed windfall taxes. The political dynamics between the Biden administration and the oil industry are explored, along with the financial strategies of oil companies like Exxon. The video concludes with an outlook on oil supply and demand for 2023, considering geopolitical uncertainties and potential sanctions on Russian fuel.

What is the relationship between the Biden administration and oil companies as described in the text?

What predictions are made about the balance of oil supply and demand heading into 2023?