OPEC+ Poised to Cool Oil Market With Extra Production

The transcript discusses the consensus among market analysts that OPEC+ will likely increase oil production, with a focus on Saudi Arabia's potential strategy to phase out its unilateral cuts. The market is anticipating an increase of 1.5 million barrels per day, but there is uncertainty about the exact amount. Saudi Arabia remains cautious due to the fragile market conditions, while other members like Russia and the UAE are eager to increase production to maintain market share. The outcome of the OPEC+ meeting will significantly impact oil prices.

What is the expected increase in oil production by OPEC Plus according to market consensus?

• 1 million barrels a day

• 1.5 million barrels a day

• 2 million barrels a day

• 2.5 million barrels a day

Which country is expected to contribute the most to the increase in oil production?

• United States

• Saudi Arabia

• United Arab Emirates

• Russia

What price level has OPEC Plus worked hard to maintain for Brent crude?

• $50 per barrel

• $65 per barrel

• $55 per barrel

• $60 per barrel

Why is Saudi Arabia cautious about increasing oil production?

• Due to high production costs

• Because of market brittleness and demand uncertainty

• To maintain political leverage

• To focus on renewable energy

Which countries within OPEC Plus are more eager to increase production?

• Saudi Arabia and Kuwait

• Russia and UAE

• Iran and Iraq

• Venezuela and Nigeria