OPEC Is No Longer a Cartel, Barkindo Says

The video discusses OPEC's transformation from a cartel to a transparent organization, highlighting its data availability and media coverage. It explores the US's significant influence on OPEC due to its role as a major producer. The collaboration between OPEC and Russia is examined, focusing on their compliance and cooperation efforts. The video concludes with insights into market responses and future supply adjustments.

What significant change did OPEC undergo according to the first section?

• It became a closed organization.

• It stopped publishing data.

• It increased its secrecy.

• It transformed into a transparent organization.

How is the U.S. President described in relation to OPEC?

• As an uninterested party.

• As the biggest producer in the world.

• As the largest oil consumer.

• As a minor player in the oil market.

What is the nature of the relationship between OPEC and Russia?

• They are completely independent.

• They have no formal agreements.

• They have a cooperative partnership.

• They have a competitive rivalry.

What was the outcome of the OPEC-Russia cooperation mentioned in the third section?

• A complete breakdown of talks.

• A decline in oil production.

• A historic declaration of cooperation.

• An increase in oil prices.

What market change is highlighted in the final section?

• A flip into backwardation.

• An increase in oil inventories.

• A decrease in oil demand.

• A shift to market contango.

What is OPEC's focus to prevent in 2019 according to the final section?

• Increasing oil demand.

• Decreasing oil production.

• Building up unsustainable inventories.

• Increasing oil prices.

What is the significance of the supply adjustments discussed in the final section?

• They led to a decrease in oil prices.

• They were ignored by the market.

• They resulted in positive market responses.

• They caused a surplus in oil supply.