Oil Rises After OPEC+ Extends Cuts

The video discusses a new deal with measures to ensure production cuts are met, addressing OPEC's historical compliance issues. It highlights the role of Russia and Saudi Arabia in pushing for market balance. Saudi Arabia's aggressive pricing strategy aims to boost market prices, especially in Asia, following a previous price cut to capture market share from Russia.

What is the main purpose of the new deal discussed in the first section?

• To reduce oil prices

• To ensure production cuts are met

• To eliminate OPEC

• To increase oil production

Which countries were mentioned as not meeting their promised production cuts?

• Saudi Arabia and Russia

• Angola and Iraq

• China and India

• USA and Canada

What significant change did Saudi Arabia make in their July pricing scheme?

• Kept prices the same as June

• Eliminated pricing scheme

• Increased prices to the highest in two decades

• Decreased prices to capture market share

What was the primary goal of Saudi Arabia's pricing strategy in March?

• To align with OPEC's goals

• To reduce production

• To capture market share from Russia

• To increase oil prices

How does Saudi Arabia's recent move reflect its relationship with Russia?

• It shows they are at odds

• It indicates alignment with Russia

• It shows a lack of coordination

• It suggests a new rivalry