OPEC Fails to Agree on Output Target, What's Next?

The video discusses the recent surge in oil prices and the fundamental improvements leading to a supply deficit. It highlights the potential risks from OPEC members, particularly Saudi Arabia, and the impact of outages in Venezuela, Nigeria, and Canada on oil supply. The video also covers the outcomes of a recent OPEC meeting, including the lack of a production target agreement and the dynamics between Saudi Arabia and Iran.

What is the main reason for the recent improvement in oil prices?

• Fundamental improvements in the market

• Technological advancements in oil extraction

• New oil discoveries

• Increased demand from China

Which country's oil supply issues are considered a significant problem?

• Venezuela

• Nigeria

• Saudi Arabia

• Canada

What is the expected supply deficit in the second half of the year?

• 1,500,000 barrels a day

• 2,000,000 barrels a day

• 1,000,000 barrels a day

• 500,000 barrels a day

What was the unexpected move by Saudi Arabia in the recent OPEC meeting?

• Leaving OPEC

• Increasing oil production

• Inviting Russia to join OPEC

• Proposing a new production ceiling

How many members does OPEC have after the recent addition?

• 11

• 12

• 14

• 13