Iraq Gives All or Nothing View on OPEC Oil Freeze

The transcript discusses the challenges faced by OPEC in reaching an agreement to freeze oil production, highlighting the roles of key players like Saudi Arabia and Iran. It examines Iran's increasing production post-sanctions and the influence of Saudi Arabia as a major producer. The discussion also covers the US production decline and its impact on the market, with companies like Chesapeake starting to cut production due to financial pressures.

What is the main challenge in reaching an agreement within OPEC to freeze production?

• Lack of communication among members

• Reluctance of certain countries to participate

• Insufficient oil reserves

• High production costs

What is Iran's target for oil production by the end of the year?

• 2 million barrels a day

• 4 million barrels a day

• 3 million barrels a day

• 5 million barrels a day

Which country is considered the most influential in OPEC's decision-making?

• United States

• Iran

• Russia

• Saudi Arabia

What is the current trend in US oil production?

• Decreasing slightly

• Decreasing significantly

• Increasing rapidly

• Staying constant

What is the expected change in high-cost producers' market presence in 2016?

• They will increase production

• They will exit the market slowly

• They will exit the market quickly

• They will remain unchanged