IEA Birol on Price Caps, Impact of China Rebound on Oil

The video discusses the impact of price caps on Russian crude products imposed by the EU, G7, and Australia, noting a 30% decline in Russian oil and gas revenues without major market disruptions. It also explores the uncertainties in oil markets, particularly the influence of China's economic rebound on global oil and LNG demand, which could lead to increased prices unless OPEC+ intervenes.

What was the percentage decline in Russian oil and gas revenues due to the price caps?

• 20%

• 50%

• 40%

• 30%

What were the two main objectives of the price caps on Russian oil?

• Boost Russian revenues and decrease supply

• Stabilize global markets and increase demand

• Ensure market supply and reduce Russian revenues

• Increase oil prices and reduce supply

Which country's economic rebound is considered the most significant uncertainty for the oil market in 2023?

• Russia

• China

• India

• United States

How might a strong rebound in China's economy affect global oil demand?

• It will increase global oil demand

• It will stabilize global oil demand

• It will have no impact on global oil demand

• It will decrease global oil demand

What is the potential impact on oil prices if China's economic rebound is stronger than expected?

• Prices will decrease

• Prices will remain stable

• Prices will increase

• Prices will fluctuate unpredictably