OPEC Starting Talks Without Iran, Iraq

The transcript discusses the efforts and challenges faced by OPEC countries, particularly Saudi Arabia, in reaching a deal to cut oil production. It highlights the diplomatic efforts, the role of Russia, and the impact of the Trump administration on Iran's oil market. The discussion also covers the four pillars necessary for an agreement and the challenges in achieving production cuts, with Saudi Arabia expected to bear the brunt of the cuts.

What is the main challenge for Saudi Arabia in reaching a deal with OPEC?

• Increasing its own oil production

• Reducing oil prices to $30 a barrel

• Ensuring Russia's participation in the deal

• Convincing Iran and Iraq to make large production cuts

Why is Saudi Arabia reluctant to curtail OPEC production?

• It fears losing credibility if the deal fails

• It wants to increase its market share

• It aims to maintain high oil prices

• It prefers to wait for the Trump administration's policies

How might the Trump administration affect Iran's oil production?

• By increasing sanctions and reducing production

• By supporting Iran's market re-entry

• By rolling back international sanctions

• By encouraging higher production levels

What is one of the four pillars necessary for a successful OPEC deal?

• Russia must lead the negotiations

• Saudi Arabia must cut production by 2 million barrels

• The deal must be transparent and credible

• All members must agree to increase production

Which countries are expected to contribute to production cuts alongside Saudi Arabia?

• Iran and Iraq

• Kuwait and the UAE

• Venezuela and Nigeria

• Russia and the USA