CLEAN : Saudi says door open to future oil output hike

The video discusses the current state of the market, highlighting the balance between supply and demand achieved through the cooperation of 25 countries. It emphasizes the importance of maintaining market stability, especially for developing nations, and outlines proactive measures to prevent instability. The video also covers the role of the Joint Technical Committee in monitoring the market and the readiness of ministers to deploy spare capacity in case of demand shortfalls due to various factors, including geopolitical and technical disruptions.

What is the primary focus of the 25 countries working under the Declaration of Cooperation?

• To eliminate competition

• To balance supply and demand

• To increase market prices

• To reduce production costs

What is the main goal of the proactive measures discussed in the second section?

• To prevent market instability

• To enhance competition

• To increase supply

• To reduce demand

Who is responsible for monitoring the market according to the second section?

• The United Nations

• The Joint Technical Committee

• The World Bank

• The International Monetary Fund

What factors could lead to demand shortfalls as mentioned in the final section?

• Increased production

• Geopolitical issues and technical disruptions

• Improved technology

• Higher consumer demand

What is the role of ministers in addressing potential demand shortfalls?

• To negotiate trade deals

• To deploy spare capacity

• To increase taxes

• To reduce workforce