WTI Climbs Above $60 for First Time in a Year

The video discusses the impact of a cold snap in Texas and the Midwest on oil production, highlighting the challenges of operating wells in freezing temperatures and the difficulty in transporting oil. It also examines the effects of increased demand for propane due to cold weather across the US, which is driving up oil prices. The video further explores the market balance, with insights from Russian Energy Minister Novak, and anticipates discussions at the upcoming OPEC meeting regarding oil supply adjustments.

What are the implications of the OPEC meeting for oil prices?

How has the global market structure of oil prices changed recently?