OPEC Is in ‘Whatever It Takes’ Moment to Prop Up Prices

The video discusses the recent decline in oil prices despite OPEC's decision to cut production by 1.2 million barrels per day. Concerns over US shale production and global economic growth have led to doubts about the effectiveness of the cuts. OPEC members, including Saudi Arabia, Iraq, Kuwait, and the UAE, are considering extending or deepening the cuts. A press conference in Kuwait reiterated OPEC's commitment to balancing the market, with the possibility of further adjustments if needed.

What was the main reason for the recent decline in oil prices despite OPEC's output cut?

• OPEC's decision to increase output

• Strong global economic growth

• Increased demand for oil

• Surging US shale production

Which country has volunteered to lead in trimming oil output beyond the agreed amount?

• Iraq

• UAE

• Kuwait

• Saudi Arabia

What is the expected daily oil production of Saudi Arabia in January as per the new plan?

• 10.2 million barrels

• 10.3 million barrels

• 10.1 million barrels

• 10.4 million barrels

During the press briefing in Kuwait, what did OPEC members emphasize about their production cuts?

• They will deliver the agreed cuts and cooperate with other producers

• They will increase production

• They will stop production cuts

• They will not make any changes

What did the UAE Energy Minister say about the possibility of adjusting the OPEC deal?

• Adjustments will be considered if necessary to balance the market

• Adjustments have already been finalized

• Adjustments will be made only after a year

• Adjustments are not possible