Shale King Harold Hamm: Here's Why We'll Get an OPEC Deal

Shale King Harold Hamm: Here's Why We'll Get an OPEC Deal

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Wayground Content

FREE Resource

The video discusses the dynamics of the oil market, focusing on OPEC's strategies to remain relevant by balancing supply and demand. It highlights the challenges faced by OPEC in negotiating with countries like Iran and Iraq, and the potential strategies Saudi Arabia might employ to influence oil prices. The discussion also covers the impact of US shale production on the global oil market and the discipline shown by US producers in maintaining production levels.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main reason OPEC needs to make a deal according to the speaker?

To compete with US shale producers

To remain relevant in the market

To increase oil production

To decrease oil prices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does Saudi Arabia plan to influence Iran and Iraq according to the discussion?

By offering financial incentives

By reducing their own oil production

By manipulating oil prices through production levels

By forming alliances with other countries

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the proposed solution to pressure Iran and Iraq into cooperation?

Increasing oil prices

Flooding the market with oil

Reducing oil exports

Negotiating new trade deals

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the expected impact of a 3% production cut by OPEC?

A decrease in market share

No change in the market

An increase in oil prices

A significant drop in oil prices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What price band does the speaker suggest OPEC aims to maintain?

$60 to $70

$55 to $65

$50 to $60

$45 to $55

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What has been the behavior of US shale producers in response to low oil prices?

Increasing production significantly

Showing discipline and limiting production

Taking on more debt

Flooding the market with oil

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the anticipated timeline for a significant increase in US oil production?

6 months

12 months

24 months

18 months