OPEC Faces Potential Output Roadblock in Iraq, Iran

The transcript discusses the challenges faced by OPEC in reaching an agreement on oil production cuts, focusing on Iraq and Iran's reluctance to accept secondary production baselines. It highlights changes since the Algiers meeting, including increased production from Nigeria and Libya, and the impact of Trump's election. Saudi Arabia's significant stakes in the deal are emphasized, along with market expectations and potential reactions. The dynamics between non-OPEC and OPEC production are also explored, noting the continued increase in non-OPEC output despite OPEC's efforts.

What is a major issue for Iraq in agreeing to production cuts?

• Their baseline production level

• The price of oil

• The election of Trump

• Increased production from Nigeria

How has the election of Trump affected the oil market?

• It has decreased oil prices

• It has made US energy policy more ambiguous

• It has increased production in Libya

• It has led to a new OPEC agreement

Why is reaching an agreement important for Saudi Arabia?

• To reduce production

• To support Nigeria

• To increase oil prices

• To maintain credibility

What is the market's expectation if oil prices are low before the meeting?

• No expectation for a deal

• Low expectation for a deal

• High expectation for a deal

• Expectation for increased production

What is a challenge for OPEC despite production cuts?

• Non-OPEC production continues to rise

• Lack of new oil fields

• Increased demand for oil

• Decreased capital expenditures