OPEC Seeks Deal on Oil Production Curbs

The transcript discusses the complexities of an OPEC deal, focusing on production cuts and the roles of Iran and Iraq. It highlights the challenges of reaching an agreement, especially with potential exemptions for Iran and Iraq. The impact of US politics, particularly under President Trump, is also considered, along with discrepancies in Iraq's production numbers.

What is the main challenge discussed in the first section regarding the OPEC deal?

• Ensuring all countries comply with production cuts

• Reducing oil consumption

• Finding new oil reserves

• Increasing oil prices

Which two countries are highlighted for requesting exemptions from production cuts?

• Russia and China

• Venezuela and Nigeria

• Iraq and Iran

• Saudi Arabia and Kuwait

What is the potential consequence if Iraq and Iran do not comply with the production cuts?

• An increase in oil imports

• A decrease in global oil demand

• A burden of cuts on Saudi Arabia and other producers

• Increased oil prices

How might President-elect Donald Trump influence the OPEC deal?

• By joining OPEC

• By increasing oil production in the US

• By reimposing sanctions on Iran

• By reducing oil prices

What discrepancy is Iraq contesting regarding its oil production?

• The amount of oil reserves

• The number of oil rigs in operation

• The price of oil per barrel

• The production numbers reported by OPEC