Iraq’s Oil Minister Ghadhban on Compliance With OPEC+ Production Cuts

The transcript discusses OPEC's production adjustments, focusing on compliance and economic analysis. It highlights the professional discussions among member countries, addressing oversupply concerns and the need for deeper cuts. The dialogue also covers the pressure dynamics within OPEC, particularly regarding Iraq's economic challenges and the role of Saudi Arabia. The importance of unanimous decisions and the potential for extraordinary meetings to address ongoing issues are emphasized.

What was the main reason for the voluntary production cuts by OPEC countries?

• To increase oil prices

• To reduce competition

• To stabilize the market

• To comply with international regulations

By when did Iraq agree to meet its production quota?

• End of the year

• End of December

• End of November

• First quarter of 2020

What was the role of the Economic Commission Board in the OPEC meeting?

• To enforce production cuts

• To analyze market scenarios

• To negotiate with non-member countries

• To set oil prices

Why was an extraordinary OPEC meeting considered necessary?

• To address member disputes

• To discuss new oil reserves

• To ensure the effectiveness of current measures

• To plan for future expansions

What was the response to the claim of pressure from Saudi Arabia on other OPEC members?

• It was ignored

• It was partially acknowledged

• It was denied as false

• It was confirmed as true