Stephen Schork, president of the SchorkGroup, an energy consulting company in Villanova, Pennsylvania, talks about oil production and prices. He speaks with Bloomberg’s Yvonne Man on “Bloomberg Daybreak: Australia.”
There is still about 4$-$5 of political risk within the overheated oil prices that reached $80 for Brent over the last few weeks.
Markets are going back to that sweet spot of price ranges where both investors and consumers are happy.
What is it?
Meanwhile, producers are scrambling, some to comply and others to take advantage of current elevated prices.
Watch this oil production and crude price development take shape here.