OPEC Cuts Forecast to 2003 Low

The video discusses a significant slide in stocks, primarily driven by energy shares after OPEC reduced its demand forecast. This downturn affected Asian markets, with the Nikkei and Shanghai Composite both closing down. The yen's rise also contributed to Japanese equity losses. Oil prices showed a modest recovery after hitting a five-year low, with OPEC predicting a decrease in global crude demand. The Saudi oil minister expressed confidence in market self-correction. The video also highlights the economic impact on Russia, where the central bank is expected to raise borrowing costs due to the ruble's decline, exacerbated by falling oil prices and Western sanctions.

What was the primary reason for the recent decline in energy shares?

• Decrease in natural gas prices

• OPEC's reduced demand forecast

• Increase in global oil supply

• Rise in renewable energy investments

Which Asian markets were affected by the stock sell-off?

• Taiwan Weighted and Straits Times

• Sensex and Jakarta Composite

• Nikkei and Shanghai Composite

• Hang Seng and KOSPI

What is OPEC's forecast for global crude demand next year?

• Decrease by 300,000 barrels a day

• Increase by 500,000 barrels a day

• Remain stable

• Increase by 1 million barrels a day

What is the Saudi oil minister's stance on production cuts?

• Supports immediate cuts

• Proposes a temporary halt in production

• Believes the market will self-correct

• Calls for increased production

What economic measure is Russia likely to take in response to the ruble's decline?

• Increase oil exports

• Implement currency controls

• Raise borrowing costs

• Decrease interest rates