BofA's Blanch Says OPEC's Likely to Extend Output Cuts

The video discusses the recent market pressure on oil prices due to high US inventory levels and speculative market activities. It explores potential actions by OPEC, including extending oil production cuts, and highlights the impact of US oil rig activity on prices. The video also examines export trends and their influence on market balance, particularly in Asia and Europe.

What trends have been observed in US drilling activity and rig counts?

How might the export picture for US oil change in the coming months?