IEA's Birol on Saudi Energy Minister, Oil Demand Growth, U.S. Production

The video discusses the role of Abdelaziz in Saudi Arabia's oil policies, emphasizing the need for economic diversification due to increasing US oil production and weakening demand. It highlights the impact of technological advancements and trade tensions on oil markets, stressing the importance of adapting to these changes. The potential effects of US oil production on global prices and the risks of recession due to trade disputes are also examined.

What is the primary reason for the need for economic diversification in Prasadi Arabia?

• Decrease in US oil production

• Rising oil prices

• Dependence on oil revenues

• Increase in local manufacturing

What technological advancement is contributing to the weakening demand for oil?

• Hydraulic fracturing

• Electric cars

• Nuclear energy

• Solar panels

According to the IEA report, what is the expected growth in oil demand for 2019?

• 1.6 million barrels per day

• 2 million barrels per day

• 0.5 million barrels per day

• 1 million barrels per day

What percentage of global oil production growth is expected to come from the United States in the next five years?

• 50%

• 80%

• 60%

• 70%

What is a potential consequence of higher oil prices according to the discussion?

• Increased US oil production

• Decreased global oil demand

• Stabilization of oil prices

• Reduction in market volatility

What is considered the most significant risk to the global economy?

• Trade disputes between the US and China

• European tariffs

• Rising oil prices

• Technological advancements

What could be a potential impact of US tariffs on Europe?

• Increased oil demand

• Higher oil prices

• Strengthening of the European economy

• A recession in Europe