IEA Says Don't Expect Major Change in OPEC+ Policy

The video discusses OPEC's current oil production deal, highlighting a 94% compliance rate among OPEC countries and improving compliance among non-OPEC producers. The deal has stabilized oil prices, and the upcoming meeting in Baku is expected to review progress without major strategy changes. The video also explores the complexities of forecasting oil demand, noting strong demand growth in 2018 and a positive outlook for 2019, despite economic challenges like trade disputes and a slowdown in China.

What was the compliance rate of OPEC countries with the deal as mentioned in the video?

• 70%

• 100%

• 94%

• 80%

What is the main expectation from the upcoming OPEC meeting in Baku?

• To dissolve the current deal

• To introduce new members to OPEC

• To increase oil production

• To review and possibly maintain the current strategy

What was the average demand growth in 2018 according to the IEA?

• 2.0 million barrels a day

• 1.0 million barrels a day

• 0.8 million barrels a day

• 1.3 million barrels a day

What economic factors are mentioned as influencing oil demand in 2019?

• High inflation rates

• Trade disputes and slowdown in China

• Rising interest rates

• Increased government spending

How does the video describe the process of forecasting oil demand?

• As unpredictable

• As a balance between art and science

• As purely scientific

• As purely artistic