We Need Additional Oil Supply Out of OPEC, Says Tortoise's Sallee

The video discusses the current state of the oil market, highlighting the impact of geopolitical issues like the trade war on oil prices. It emphasizes the strong demand growth, which has been significantly above the long-term average, necessitating increased supply from OPEC and the US. The video also examines the US shale industry's ability to ramp up production, particularly in the Permian Basin, where growth is hindered by labor shortages, service shortages, and pipeline constraints. Despite these challenges, US production is expected to continue growing, albeit at a slower pace, which supports oil prices.

What risks to oil prices are mentioned in relation to the trade war?

What is the current state of demand for oil according to the text?

What are the two main sources of additional oil supply mentioned in the text?

How has the growth rate of Permian Basin production changed in recent months?

What factors are contributing to the constraints in oil production in the Permian Basin?