OPEC, Russia Both Fail to Act as Oil, Ruble Tumble

The video discusses the decline in oil prices, highlighting that prices have reached their lowest since 2009. It covers OPEC's decision not to cut production and the potential impact on shale producers. The market's reaction, including trading volumes and price predictions, is analyzed. The video also examines the economic impact on Russia, focusing on the ruble's depreciation and inflation concerns.

What was the main reason for the recent decline in oil prices according to the transcript?

• A natural disaster affecting oil supply

• OPEC's decision not to cut production

• Increased demand from emerging markets

• OPEC's decision to cut production

Which oil price is considered the break-even point for most Bakken oil according to the International Energy Agency?

• $42 a barrel

• $44 a barrel

• $10 a barrel

• $65 a barrel

What is one potential outcome of the oil price being under pressure as mentioned in the transcript?

• Increased production by OPEC

• Decreased consumption by emerging markets

• Increased consumption by emerging markets

• Stability in oil prices

How did the depreciation of the ruble affect Russia's economic strategy?

• It caused a decrease in inflation

• It resulted in increased oil production

• It allowed for a balanced budget despite falling oil prices

• It led to an increase in social program funding

What inflation rate does the deputy head of the Russian central bank predict for the first quarter of next year?

• 10%

• 8%

• 5%

• 12%