OPEC+ Reviving Halted Production Amid Tighter Market

The video discusses OPEC's recent meeting, where they decided to increase output by 400,000 barrels a day starting February. However, there are concerns about OPEC's ability to meet this target due to past compliance issues and production shortfalls. Some countries, including Angola and Malaysia, are struggling to meet their production goals. The video also explores the issue of spare capacity, with some countries like Russia expected to exhaust their spare capacity by April. The discussion highlights the potential challenges OPEC may face in 2022 as demand increases and spare capacity becomes a critical issue.

What was the main outcome of the recent OPEC meeting?

• A decision to decrease oil production

• A decision to increase oil production by 400,000 barrels a day

• A decision to suspend all production

• A decision to maintain current production levels

Which countries are mentioned as struggling to meet their production targets?

• Brazil and Argentina

• USA and Canada

• Angola and Malaysia

• Saudi Arabia and UAE

What is the compliance rate mentioned for OPEC's production in November?

• 110%

• 100%

• 117%

• 125%

By when do Russian oil producers expect to exhaust their spare capacity?

• February

• January

• April

• March

Which countries are noted to have spare capacity that could potentially compensate for others?

• Brazil and Argentina

• USA and Canada

• China and India

• United Arab Emirates and Saudi Arabia