U.S.'s Stance on Iran and Venezuela to Affect OPEC Policy, Nasdaq's Essner Says

The transcript discusses the dynamics of oil prices influenced by OPEC's decisions, US sanctions on Iran and Venezuela, and the trends in US oil production. It highlights the potential divergence in interests between Saudi Arabia and Russia within OPEC, the impact of US policy on global oil markets, and the sustainability of US shale growth. The discussion also covers the operational changes in the US shale industry and the involvement of major companies like Exxon and Chevron.

What is a potential outcome of the upcoming OPEC meeting regarding Saudi Arabia and Russia?

• They will both agree to increase oil production.

• Saudi Arabia and Russia might have differing interests.

• They will both decide to stop oil production.

• Saudi Arabia will leave OPEC.

How might US sanctions on Iran and Venezuela influence OPEC's decisions?

• OPEC will ignore US sanctions.

• OPEC will dissolve.

• OPEC will increase oil production.

• OPEC's policy decisions will be informed by US sanctions.

What is the US administration's likely approach to Iran's oil exports?

• Reduce Iran's oil exports to zero.

• Increase Iran's oil exports significantly.

• Allow some exports but at reduced quotas.

• Maintain Iran's oil exports at current levels.

What is a major concern regarding the sustainability of US shale growth?

• The lack of new drilling technology.

• The rapid pace of growth seen last year is unsustainable.

• The complete depletion of shale resources.

• The inability to find skilled labor.

How are major companies like Exxon and Chevron impacting the US shale industry?

• They are reducing their investments in shale.

• They are exiting the shale industry.

• They are focusing solely on international markets.

• They are entering shale and maintaining volumes even at lower prices.