Oil Heads for Two-Year High
Interactive Video
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Business, Architecture, Social Studies
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University
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
The video discusses OPEC's strategy of involving non-OPEC countries to support production cuts and supply restraint. It highlights the limited impact of these countries due to their small production capacity. The video also covers the recent rise in WTI oil prices, attributed to the shutdown of the Keystone Pipeline, which has caused a supply disruption and led to backwardation in oil contracts. The situation is expected to stabilize once the pipeline issue is resolved.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
Why are some countries like Brazil and Colombia not participating in the meeting?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What does it mean for WTI contracts to be in backwardation?
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