OPEC Fails to Agree on Oil Output Ceiling

The transcript discusses a recent OPEC meeting where Nigeria's Mohammed Barkindo was appointed as the new Secretary General, a decision that brought some unity among the OPEC nations. However, the meeting failed to reach an agreement on reinstating the production target, a key tool for influencing oil prices. This lack of consensus is seen as a weakness, contributing to a drop in oil prices. The ministers aim to resolve these issues in the next meeting scheduled for December.

Who was appointed as the new Secretary General of OPEC?

• Abdalla El-Badri

• Bijan Zangeneh

• Ali Al-Naimi

• Mohammed Barkindo

What is the primary purpose of OPEC's production target?

• To influence oil prices

• To increase oil production

• To stabilize oil demand

• To reduce oil consumption

Why did the price of oil fall after the OPEC meeting?

• Due to an increase in oil production

• Because of a new Secretary General

• Owing to the lack of agreement on production targets

• As a result of a new oil discovery

What is the general sentiment of OPEC ministers after the meeting?

• Confident in their decisions

• Trying to maintain a positive outlook

• Optimistic about future agreements

• Satisfied with the meeting outcomes

When is the next OPEC meeting scheduled?

• December

• February

• January

• November