CLEAN : World oil prices slide to multi year lows

The video discusses the increase in oil production due to the shale oil boom in the US, which has pressured OPEC to cut production. However, OPEC members, including Iraq, Libya, and Iran, have maintained their output due to regional unrest and sanctions. Saudi Arabia is also keeping its production steady to retain market share. Despite discussions, OPEC is unlikely to cut production soon. In the long term, shale oil producers may need to adjust their output as OPEC continues its current production levels.

What has been a significant factor in the increased oil production in the US?

• The shale oil boom

• The discovery of new oil fields

• Increased demand for oil

• Technological advancements in drilling

Why have countries like Iraq, Libya, and Iran maintained their current oil production levels?

• They are facing regional unrest and sanctions

• They want to increase their market share

• They have reached their maximum production capacity

• They are waiting for OPEC's decision

What is the primary reason Saudi Arabia has not reduced its oil output?

• To increase oil prices

• To maintain its market share

• To support other OPEC members

• To reduce global oil supply

What is the general sentiment among OPEC members regarding production cuts?

• They are divided on the issue

• They are eager to cut production

• They have already agreed to cut production

• They are reluctant to cut production

What might shale oil producers need to do in the long term?

• Maintain their current production levels

• Stop production entirely

• Increase their production levels

• Adjust their production levels