Rapidan’s McNally on OPEC+ Production Increase, Oil Prices, Tariffs

Rapidan’s McNally on OPEC+ Production Increase, Oil Prices, Tariffs

Bob McNally, Rapidan Energy Group founder and president, discusses OPEC+’s recent decision to increase oil production for the month of August. He also talks about oil prices outlook, non-OPEC production, as well as the potential impact on markets coming from trade and tariff uncertainty. McNally speaks to Bloomberg’s Joumanna Bercetche in Vienna, Austria.

00:00 – OPEC+ decision to increase oil production, inventories
02:19 – Outlook for September, OPEC+ wide cuts
02:52 – US President Donald Trump’s wish to see oil prices drop
04:12 – Shale outlook, oil prices outlook, non-OPEC crude
05:12 – Trade, tariffs uncertainty
05:57 – OPEC’s market share strategy
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