Wood Mackenzie's Sivanandam Sees Oil Above $50 for 2017

The transcript discusses OPEC's likely decision to extend production cuts to stabilize the oil market, emphasizing the importance of compliance and the potential impact on oil prices. It highlights the role of supply in 2017's oil price dynamics, with demand expected to grow by 1.4 million barrels per day. The discussion also covers China's significant role in oil imports, noting a recent decline in demand, and identifies China, India, and the US as key pillars of demand growth. The impact of India's demonetization on demand is also considered.

What was one of the key outcomes of the Joint Ministerial Monitoring Committee meeting regarding OPEC's production cuts?

• Strong compliance with production cuts

• A proposal to end production cuts immediately

• A plan to decrease oil prices

• A decision to increase production

What is the expected impact on oil prices if OPEC continues its production cuts in 2017?

• Prices will stabilize at $45 per barrel

• Prices will remain above $50 per barrel

• Prices will fall below $40 per barrel

• Prices will drop to $30 per barrel

Which country is highlighted as a significant importer of oil, particularly from Saudi Arabia?

• Russia

• China

• United States

• India

What economic factor in India is mentioned as impacting oil demand growth?

• Inflation

• Demonetization

• Tax reforms

• Interest rate changes

Which three countries are identified as strong pillars of oil demand growth?

• Germany, Japan, and Canada

• Saudi Arabia, Russia, and Angola

• India, China, and the US

• China, Russia, and Brazil