OPEC Sees Its Market Share Shrinking for Years as Shale Triumphs

The transcript discusses OPEC's optimistic outlook on oil demand and the potential impact of US shale production on OPEC's market share. OPEC predicts a decrease in its market share, with US shale filling the gap. The upcoming OPEC meeting will likely focus on extending existing production quotas rather than deepening cuts. Compliance with these quotas, especially by countries like Russia, is emphasized. Shale producers are cautious about growth, contrasting with OPEC's optimistic predictions. The discussion highlights the strategic challenges OPEC faces in maintaining market share and influencing oil prices.

What is the predicted change in OPEC's market share over the coming years?

• Increase from 30% to 35%

• Remain constant at 35%

• Decrease from 35% to 32%

• Increase from 32% to 35%

What is the primary reason for the predicted drop in OPEC's market share?

• Rise in US shale production

• Increased production by Russia

• Decrease in global oil demand

• New oil discoveries in Africa

What is OPEC's likely strategy regarding production quotas in the upcoming meeting?

• Abolish all quotas

• Extend existing quotas

• Deepen production cuts

• Increase production quotas

Which countries have not fully complied with the agreed production quotas?

• Saudi Arabia and UAE

• Venezuela and Iran

• USA and Canada

• Russia and other allies

How do OPEC's views on US shale growth compare to those of some shale producers?

• OPEC is less optimistic

• OPEC has no opinion

• OPEC is more optimistic

• Both have the same outlook