CLEAN : OPEC holds oil output level triggering price collapse

The video discusses a conference decision to maintain oil production at 30 million barrels per day, as agreed in December 2011. Despite a decline in prices, the decision-makers emphasize patience and observation, rather than rushing to action. They stress that the price drop does not reflect a fundamental market change and plan to monitor how the market reacts to the production level.

What production level did the conference decide to maintain?

• 25 million barrels a day

• 30 million barrels a day

• 35 million barrels a day

• 40 million barrels a day

What was the agreed production level in December 2011?

• 35 million barrels a day

• 20 million barrels a day

• 25 million barrels a day

• 30 million barrels a day

What is the strategy in response to the price decline?

• Wait and observe market behavior

• Decrease production immediately

• Increase production immediately

• Panic and sell reserves

What does the price decline not reflect according to the speaker?

• A new market equilibrium

• A temporary market fluctuation

• A fundamental change

• A seasonal trend

How will the conference respond to the market behavior?

• By maintaining current production and monitoring

• By decreasing production

• By increasing production

• By halting production