Oil Holds Gains as U.S. Drilling Slows

Oil Holds Gains as U.S. Drilling Slows

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses the discrepancy between Brent and WTI oil prices, emphasizing the role of inventory levels in the U.S. It explores Saudi Arabia's strategic decisions in oil production, including their impact on the market and OPEC dynamics. The concept of swing versus marginal producers is explained, highlighting the market power of Saudi Arabia compared to U.S. shale producers.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary factor affecting the discrepancy between Brent and WTI markets?

Global demand for oil

OPEC production cuts

Inventory levels in the United States

Shale production levels

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was Saudi Arabia's approach to the oil market in late 2014?

Focus on alternative energy sources

Maintain production levels to influence market dynamics

Cut production to stabilize prices

Increase production to gain market share

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did other OPEC members' actions affect Saudi Arabia's strategy?

They supported Saudi Arabia's production cuts

They increased production, counteracting Saudi Arabia's efforts

They decreased production more than Saudi Arabia

They focused on non-oil energy sources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What distinguishes a swing producer from a marginal producer?

Ability to influence market prices

Production levels

Type of oil produced

Geographical location

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the United States not considered a swing producer despite its shale production?

It focuses on domestic markets

It lacks market power

It produces a different type of oil

It has higher production costs