Ep. 238: Rory Johnston on Oil to $65, Middle East Risks and Trump Agenda
Macro Hive Conversations With Bilal Hafeez
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Navigating the 2023 Oil Market Challenges
This chapter explores the complexities of the oil market in early 2023, focusing on OPEC's struggles to implement production cuts amidst geopolitical tensions and unmet demand recovery. It highlights issues surrounding the roles of key countries within OPEC+, the impacts of U.S. shale developments, and the remarkable rise of Guyana's oil production. The discussion emphasizes the ongoing dynamics of supply and demand, compliance challenges, and the overall implications for global oil prices.
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