OPEC's Barkindo: 'So Far, So Good' on Production Cut Deal

The transcript discusses oil production cuts by Saudi Arabia and Russia, the compliance mechanism for participating countries, the impact of shale oil on the global energy mix, and the review of the OPEC deal. It also covers efforts to rebalance the oil market and achieve an equilibrium price.

What is the target oil production level mentioned in the initial agreement?

• 30.5 million barrels a day

• 32.0 million barrels a day

• 31.8 million barrels a day

• 31.3 million barrels a day

What is the purpose of the meeting in Vienna regarding the OPEC agreement?

• To discuss new oil production targets

• To announce new oil price targets

• To negotiate with non-OPEC countries

• To finalize the compliance mechanism

What role does shale oil play in the global energy mix according to the discussion?

• It is not considered in the energy mix

• It has an important role to play

• It is considered a minor player

• It is expected to decline in importance

What is the current stance of Saudi Arabia on extending the OPEC deal?

• They see no need to extend it

• They are eager to extend it

• They have already extended it

• They are undecided about it

What is the main objective of the joint declaration with non-OPEC countries?

• To reduce oil production

• To accelerate stock drawdown

• To increase oil prices

• To expand oil exports

What is the expected outcome of the market rebalancing process?

• A rise in shale oil production

• The emergence of an equilibrium price

• An increase in oil production

• A decrease in oil demand

What is the current status of the equilibrium price according to the discussion?

• It is higher than expected

• It is lower than expected

• It is far from being achieved

• It has been achieved