OPEC+ Weighs Largest Oil Production Cut Since 2020
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Business, Social Studies
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University
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Hard
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the main reason for the urgency of the OPEC+ meeting?
To celebrate a new oil discovery
To address the disconnect between the futures market and actual production
To announce a new member joining OPEC+
To discuss environmental concerns
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the potential impact of the proposed 2 million barrels per day cut?
No impact on the market
Decrease in oil prices
Increase in global oil supply
Reduction of about 900,000 barrels per day from the market
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What challenge is OPEC+ facing in terms of production?
Underproduction from baselines by about 3 million barrels
Lack of demand for oil
Excessive oil reserves
Overproduction beyond baselines
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the geopolitical situation between the U.S. and Saudi Arabia affect the oil market?
It has no effect
It leads to increased cooperation
It creates tension and potential policy changes
It results in lower oil prices
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the concern of the U.S. administration regarding rising oil prices?
It will negatively impact upcoming elections
It will lead to increased exports
It will have no effect on politics
It will boost the economy
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