Saudi Arabia Wants More Equal Sharing of Cuts: Citigroup’s Martoccia

The transcript discusses a proposed 500,000 barrels per day oil production cut by OPEC and non-OPEC countries. Key points include the uncertainty over the baseline for the cuts, the burden-sharing among countries, and the duration of the cuts. The new Saudi oil minister's approach to managing OPEC is also highlighted, focusing on technicalities and less on press communication. The reactions from countries like Angola and Nigeria, which are affected differently by the baseline levels, are also discussed.

What is the main uncertainty regarding the proposed 500,000 barrels per day cut?

• The impact on oil prices

• The exact amount of the cut

• The baseline levels for the cut

• The countries involved in the cut

How does Saudi Arabia want the burden of the oil production cut to be shared?

• Based on each country's production capacity

• More on OPEC countries

• More on non-OPEC countries

• Equally among all countries

Until when did Novak suggest the 500,000 barrels per day cut might last?

• End of the year

• End of the second quarter

• Indefinitely

• End of the first quarter

Why was Angola upset about the baseline for the cuts being set in October 2019?

• It meant an extra cut for Angola

• It was not discussed in the meeting

• It favored Nigeria and Iraq

• It was unfair to non-OPEC countries

What is the new Saudi oil minister's approach to managing OPEC?

• Reducing OPEC's influence

• Increasing production

• Engaging more with the press

• Focusing on technicalities