OPEC Sees More Cut Exemption Requests

The video discusses the ongoing disputes within OPEC regarding production cuts. Before agreeing on cuts, OPEC members need to establish a baseline of production, which is currently disputed due to differing data sources. Iraq's high production numbers add to the complexity, as they seek exemptions due to sovereignty issues. Iran also aims to regain its market share post-sanctions. The video highlights the challenges faced by OPEC in reaching consensus, with ongoing negotiations in Vienna.

What is the primary challenge OPEC faces before agreeing on production cuts?

• Determining the market demand

• Agreeing on a baseline production level

• Setting a fixed oil price

• Deciding on new member countries

Why are Iraq's official production numbers causing disputes?

• They are lower than expected

• They match the agreed baseline

• They are higher than expected

• They are not officially released

What is a significant factor in the dispute between Iran and Iraq regarding production levels?

• The number of OPEC meetings

• The inclusion of new member countries

• The price of oil per barrel

• The level of leakage on new caps

Which countries were given possible exemptions in the Algiers discussions?

• Iran, Iraq, and Nigeria

• Iran, Libya, and Nigeria

• Iraq, Nigeria, and Libya

• Iraq, Iran, and Libya

What geopolitical factor is influencing Iraq's stance on production cuts?

• Their alliance with the US

• Their membership in the EU

• Their war against ISIS

• Their economic ties with China