Venezuela's Del Pino Sees Oil at $60-$70 on Inventories

The video discusses the impact of a recent oil deal on prices, highlighting Venezuela's economic dependency on oil. It covers negotiations with Russia, leading to a shift from freezing to cutting production. The video also explores global cooperation among oil-producing countries and the influence of US shale production on market dynamics.

What is the expected price range for oil if inventories are reduced to equilibrium levels?

• $70 to $80

• $60 to $70

• $40 to $50

• $30 to $40

What was a major challenge in getting Iran to agree to freeze oil production?

• Iran's political instability

• Iran's new oil fields

• Iran's sanctions being lifted

• Iran's high production costs

Why did the strategy shift from freezing to cutting oil production?

• To comply with international regulations

• To reduce production costs

• To address seasonal changes

• To increase oil prices quickly

Which country was particularly eager to cut oil production from the beginning?

• Oman

• Uzbekistan

• Colombia

• Kazakhstan

What is a significant factor that could influence US shale production if oil prices rise?

• Availability of new drilling technology

• Cost of Greenfield fracking

• International demand for oil

• Government subsidies

What is the estimated minimum price range for US shale oil production to be competitive?

• $40 to $45

• $30 to $35

• $20 to $25

• $50 to $55

What is the potential maximum price for Greenfield shale oil production?

• $90

• $60

• $70

• $80