What You Need to Know About the Middle East, Oct. 31

The video provides an update on key Middle East stories. OPEC's failure to reach an agreement with non-OPEC members like Brazil, Oman, and Russia has led to a continued fall in oil prices. Internal divisions over Iran and Iraq's roles hindered a broader agreement, with further discussions planned for late November. Turkey's economic data is under scrutiny as it attempts to boost spending to counter a slowdown. A reported budget surplus turns into a deficit under IMF standards, with a record gap of $12 billion in August. The discrepancy means Turkey won't achieve a surplus until at least 2019. Meanwhile, Qatari telecom company OREDO reported third-quarter earnings below analyst estimates, though revenue exceeded forecasts, and shares have risen over 25% this year.

What was the main reason for the failure of OPEC and non-OPEC countries to reach an agreement on oil supply?

• Economic sanctions on Russia

• Disagreements over the role of Iran and Iraq

• Lack of participation from the United States

• Environmental concerns

Which countries were involved in the talks with OPEC regarding oil supply?

• China, India, and Japan

• Brazil, Oman, and Russia

• United States, Canada, and Mexico

• Saudi Arabia, UAE, and Kuwait

What is the main issue with Turkey's reported budget surplus?

• It is based on outdated economic data

• It is inflated due to currency devaluation

• It turns into a deficit when using IMF standards

• It does not account for foreign investments

When is Turkey expected to deliver a budget surplus under IMF accounting?

• In 2025

• By the end of 2020

• By 2022

• In 2019

How did OREDO's third-quarter net earnings compare to analyst estimates?

• They were significantly higher

• They were slightly above the estimates

• They matched the estimates

• They were well below the estimates