"We are in an oil war where OPEC, led by Saudi Arabia, is about international market share. Shale oil is trying to get into that market share. And then you have the Russians. OPEC is not going to cut because they can't, it's about market share. And yet they are building nuclear reactors. So they are planning for the future, but they are maintaining their market share. That is what this game is all about," he said.Don't forget... Despite OPEC's importance, Katusa reminded listeners that the US still matters, noting that the importance of Americans and the US dollar should not be underestimated. He also said that oil investors shouldn't count out Canada, which has increased its crude oil exports to the US slowly but surely over the years.
"A lot of people forget horizontal fracking, [which] the Russians really did well with. It was the Canadian companies that did that in Russia," he said. He also noted that the gift horse for Canadian producers in the oil war is Canada's weaker currency — although producers in the country get a lot less per barrel of oil, the currency puts the price at about $63 per barrel for those selling in US dollars.Patience is certainly a virtue and while it isn't always easy to keep the bigger picture in mind, those interested in the oil space might want to consider Katusa's perspective. All in all, he appears more optimistic than most about the fuel's prospects moving forward. Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. Related reading: New US Fracking Regulations Face Opposition Infographic: Oil Production in the US Stick to Lowest-cost Oil Producers: Marin Katusa Marin Katusa Talks Oil Market Trends at Canvest 2015 from Oil Investing News