Saudi Oil Chief Faces Toughest Test at OPEC Meeting This Week

The upcoming OPEC meeting is crucial as it may end historic output cuts that stabilized oil prices. Saudi Arabia and Russia aim to increase production to offset potential losses from Iran and Venezuela, but face opposition from other OPEC members. Saudi Arabia seeks a smooth transition without price crashes, while Iran, Venezuela, and Iraq oppose output increases. Saudi Energy Minister Khalid Al Falih, known for his role in past production cuts, faces challenges in reaching consensus. The meeting is expected to be contentious, with potential compromises on output levels.

What is the main reason for the increased significance of the upcoming OPEC meeting?

• A change in leadership within OPEC

• The possibility of ending historic output cuts

• A major oil spill incident

• A new member joining OPEC

Which countries are expected to oppose the proposal to increase oil production?

• Iran, Venezuela, and Iraq

• China and India

• United States and Canada

• Saudi Arabia and Russia

What is Saudi Arabia's main concern regarding the exit from output cuts?

• Causing a crash in oil prices

• Reducing oil reserves

• Losing market share to the US

• Increasing production costs

Who is the key figure trying to bridge the gap among OPEC members?

• The US President

• The UN Secretary-General

• Saudi Energy Minister Khalid Al Falih

• The CEO of a major oil company

What was Khalid Al Falih's significant achievement in 2017?

• Building a new oil refinery

• Introducing a new energy policy

• Persuading OPEC to cut production

• Increasing oil prices to $100 a barrel