Shale Producers to Be Just Fine on OPEC Decision, Says SocGen's Wittner

The video discusses the OPEC meeting's impact on the WTI Brent spread, highlighting market movements and investor flows. It examines the market's reaction to unexpected agreements, particularly Saudi Arabia's aggressive stance, and the resulting price movements. The discussion identifies Saudi Arabia, Kuwait, and UAE as winners, while Iran is a loser in terms of production and market share. The video concludes by analyzing the impact of price changes on shell producers, noting that they remain profitable despite fluctuations.

What was the initial spread between WTI and Brent before it changed to $5?

• $15

• $11

• $7

• $3

Which countries were identified as the winners in terms of production and market share after the OPEC agreement?

• Iran and Iraq

• United States and Canada

• Saudi Arabia, Kuwait, and UAE

• Russia and Venezuela

What was the key difference between the OPEC meetings on Friday and Saturday?

• Introduction of a new oil pricing model

• Clarification of a total OPEC production cap

• Increase in oil production quotas

• Reduction in oil export tariffs

How are shale producers expected to fare despite changes in oil prices?

• They will struggle due to high production costs

• They will thrive due to low production costs

• They will halt production entirely

• They will merge with OPEC countries

What is the production cost range for shale producers in the Permian?

• $35-$40 per barrel

• $30-$35 per barrel

• $20-$25 per barrel

• $45-$50 per barrel