Crude Oil Falls to Lowest Level Since 2012

The video discusses the fluctuations in oil prices, focusing on the impact of these changes on global economies, particularly the US, Saudi Arabia, and Russia. It highlights the role of OPEC meetings in determining oil production levels and the geopolitical factors influencing oil prices. The video also examines the profitability of US oil drilling amidst price changes and how oil prices serve as economic indicators.

What was the price of West Texas Intermediate crude oil in June before it dropped?

• $107 per barrel

• $81 per barrel

• $70 per barrel

• $90 per barrel

Which country is NOT mentioned as a major oil exporter in the first section?

• Saudi Arabia

• Russia

• United States

• China

What is the main topic of discussion for the upcoming OPEC meeting?

• Increasing oil production

• Cutting oil production

• Introducing new oil drilling techniques

• Setting new oil prices

Why might Saudi Arabia want to keep oil prices lower, according to the third section?

• To make U.S. fracking less profitable

• To boost their own economy

• To support Russian oil exports

• To increase global oil demand

What economic challenge is Russia facing due to falling oil prices?

• Increased oil production costs

• Difficulty in refinancing debt

• Higher demand for oil exports

• Rising approval ratings