OPEC's Barkindo Sees Much Lower 2019 Oil Demand Growth

OPEC's Barkindo Sees Much Lower 2019 Oil Demand Growth

Assessment

Interactive Video

Business, Architecture, Social Studies

University

Hard

Created by

Wayground Content

FREE Resource

The video discusses the current state of the oil market, highlighting the balance in the last quarter of 2018 and potential oversupply in 2019 due to increased non-OPEC production, particularly from the US. It explores potential production cuts, with Saudi Arabia possibly contributing 500,000 barrels. The role of Russia in OPEC and non-OPEC cooperation is emphasized, along with the importance of US involvement in the global oil industry. Future demand projections indicate a deceleration due to global GDP cooling, necessitating joint actions to maintain market stability.

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4 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

How did the Secretary General describe the relationship between OPEC and non-OPEC countries?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What did the Secretary General indicate about the stability of oil prices and its importance for consuming countries?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What were the expectations for demand growth in 2019 based on the data reviewed by OPEC?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What actions did the Secretary General suggest were necessary to maintain stability in the oil market?

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