Is OPEC's Credibility Crumbling?

The transcript discusses the fluctuating oil market, focusing on OPEC's decisions and their impact on oil prices. It highlights the spread between Brent and WTI, indicating an oversupply in the market. The discussion covers global oil supply, including contributions from Libya and Nigeria, and the skepticism towards OPEC's actions. Speculative long positions in the market are analyzed, with concerns about potential risks if these positions are liquidated. The transcript concludes with speculations on future oil prices, considering various market analyses and predictions.

What are the implications of the bearish U.S. oil inventory numbers?

What do analysts predict about the future price of oil based on current market conditions?