IEA Sees OPEC Deal Causing Oil-Supply Deficit in 2017

What is the expected impact of the OPEC deal on the oil market according to the IEA?

• It could shift the market from surplus to deficit.

• It will have no significant impact.

• It will lead to a surplus in the oil market.

• It will only affect non-OPEC countries.

What is the main question regarding US shale's response to the oil market changes?

• Whether US shale will decrease production.

• Whether US shale will invest in renewable energy.

• Whether US shale will respond to higher prices.

• Whether US shale will collaborate with OPEC.

What was the Saudi oil minister's expectation about US shale's response in 2017?

• A significant increase in shale production.

• No response from US shale.

• A moderate response from US shale.

• A decrease in shale production.

What strategy have oil producers, especially shale producers, been using since the OPEC agreement?

• Investing in alternative energy sources.

• Hedging to lock in future prices.

• Reducing production to increase prices.

• Increasing production without hedging.

How might Saudi Arabia's sales strategy affect US crude prices?

• It will make US crude more expensive.

• It will have no effect on US crude prices.

• It will make US crude cheaper.

• It will stabilize US crude prices.