JBC's Benigni: OPEC's Strategy Is Working

The video discusses the market's reaction to the OPEC meeting, highlighting that the lack of agreement did not negatively impact prices as expected. OPEC's strategy is deemed successful, with increased market share due to Iran's return and potential production from Libya. Non-OPEC production is declining, particularly in the US, which may help rebalance the market. The Baker Hughes index shows a slight increase, indicating renewed interest in shale production, which remains competitive even at $50 per barrel.

What was the market's reaction to the lack of agreement at the OPEC meeting?

• The market reacted negatively.

• The market was indifferent.

• The market reacted positively.

• The market expected an agreement.

Which countries are mentioned as gaining market share in the oil industry?

• Saudi Arabia and Russia

• Venezuela and Nigeria

• Iran and Libya

• Canada and Mexico

What is the expected impact of the decline in non-OPEC production?

• Stability in oil prices

• Decrease in OPEC production

• Rebalancing of the market

• Increase in oil prices

Which index is mentioned in relation to US oil production?

• Dow Jones Index

• NASDAQ Index

• Baker Hughes Index

• S&P 500 Index

At what price is shale production considered competitive?

• $50 per barrel

• $60 per barrel

• $30 per barrel

• $40 per barrel