Ex-Shell CEO Says Underinvestment Keeps Oil Prices High

The video discusses OPEC's production cuts and their impact on the oil market, highlighting the role of US shale as a balancing supply. It explores the challenges of maintaining oil production due to decline rates and underinvestment in large projects. The discussion also covers the potential for future oil price peaks and the need for continuous investment to sustain production levels.

What is a major concern if OPEC stops cutting production?

• Increase in oil prices

• Return to overproduction

• Decrease in oil demand

• Improvement in market stability

How does US shale oil affect the global oil market?

• It decreases the overall oil supply

• It acts as a balancing supply when prices rise

• It solely determines the global oil prices

• It has no impact on global oil prices

What is the typical annual decline rate for oil fields?

• 2%

• 5%

• 10%

• 15%

Why is continuous investment necessary in the oil industry?

• To increase oil prices

• To decrease global oil demand

• To maintain current production levels

• To reduce environmental impact

What could lead to steeper decline rates in oil production?

• Increased investment in maintenance

• Lack of maintenance and investment

• Higher oil prices

• Improved extraction technology