Oil's Decline Resumes as Inventories Climb

The video discusses the market's reaction to the midterm elections, highlighting the accuracy of polls and the lack of expected volatility. It then shifts focus to the crude oil market, examining the impact of US crude production, OPEC's actions, and recent midterm initiatives on the market. The discussion includes the implications of EIA and API data, OPEC's meeting in Abu Dhabi, and the defeat of certain environmental initiatives in the US.

Discuss the implications of OPEC's meeting in Abu Dhabi on the crude oil market.

What role do transport costs play in US crude oil production decisions?