U.A.E. Energy Minister on OPEC Alliance, Oil Inventories

The transcript discusses the global oil market, focusing on OPEC's role in balancing supply and demand. It highlights the success of the OPEC and non-OPEC alliance in reducing oil inventories and achieving market stability. The discussion also covers future strategies, the importance of cooperation among oil-producing countries, and Saudi Arabia's significant role in the alliance. Additionally, it touches on oil pricing and the need for continued investment to prevent supply shortages.

What is the main reason for the decline in oil inventories according to the OPEC and non-OPEC deal?

• Reduction in global oil demand

• Successful implementation of the OPEC and non-OPEC deal

• Increased oil production by the US

• Natural disasters affecting oil production

What was the compliance level of the OPEC deal in the fourth quarter of 2017?

• 120%

• 110%

• 129%

• 100%

What is the primary goal of the OPEC and non-OPEC alliance?

• To increase oil prices

• To ensure a balance between oil supply and demand

• To reduce oil production

• To eliminate competition from non-OPEC countries

What is the expected daily oil demand mentioned in the discussion?

• 105 million barrels

• 100 million barrels

• 95 million barrels

• 90 million barrels

What is the main challenge mentioned in achieving market balance?

• Declining older oil fields

• Lack of investment

• Overproduction of oil

• Political instability

How does Saudi Arabia contribute to the stability of the oil market?

• By setting a fixed oil price

• By reducing oil exports

• By leading the OPEC and non-OPEC alliance

• By increasing oil production

What is the stance of OPEC members on setting a fixed oil price?

• They believe the market should decide the price

• They aim to increase the price

• They want to lower the price

• They support a fixed price