OPEC+ Crisis Deepens as UAE and Saudis Refuse to Budge

The video discusses the ongoing crisis within OPEC, focusing on the divide between Saudi Arabia and the UAE. Both countries have firm stances on the current OPEC+ deal, with Saudi Arabia advocating for an extension and the UAE opposing it. The debate has been highlighted on Bloomberg, with market implications if no agreement is reached. The most likely scenario is no production increase in August, with another meeting to follow.

What is the main issue causing the current crisis within OPEC?

• A disagreement over oil prices

• A divide between the UAE and Saudi Arabia

• A lack of demand for oil

• A new member joining OPEC

What is Saudi Arabia's position regarding the OPEC plus deal?

• They want to end the deal immediately

• They support extending the deal until the end of next year

• They oppose any changes to the current deal

• They want to increase production in August

How does the UAE view the extension of the OPEC plus deal?

• They have no opinion on the matter

• They want to end the deal immediately

• They believe it should be treated separately from production increases

• They fully support the extension

What is the likelihood of an all-out price war according to the discussion?

• Very high

• Non-existent

• Moderate

• Slim

If no deal is reached, what is the most likely scenario for August?

• A new deal being formed

• No production increase

• A decrease in oil prices

• A significant increase in production