Qamar Says Oil Price Decline Due to Libya, Nigeria

The video discusses a Bloomberg function for analyzing OPEC's oil production, focusing on Libya and Nigeria's impact on production levels. It highlights an OPEC meeting in Abu Dhabi addressing compliance issues, particularly with Iraq. The video also explores OPEC's lack of enforcement mechanisms, with Saudi Arabia's potential withdrawal as a significant threat.

What feature does the Bloomberg function offer regarding OPEC's production?

• It provides historical oil prices.

• It allows viewing total and individual member production.

• It forecasts future oil demand.

• It compares OPEC with non-OPEC countries.

What has been a significant factor in the recent fall of oil prices?

• New oil discoveries in the US.

• Libya and Nigeria's production recovery.

• Decreased demand in Europe.

• Increased production in Saudi Arabia.

What is a major concern regarding Libya's oil production?

• Its competition with Russian oil.

• Its sustainability due to security issues.

• Its high production costs.

• Its impact on US oil markets.

What is the primary goal of the OPEC and non-OPEC technical committee meeting?

• To negotiate with non-OPEC countries.

• To expand OPEC membership.

• To monitor compliance with production cuts.

• To set new oil prices.

What is considered the ultimate enforcement mechanism for OPEC compliance?

• Imposing fines on non-compliant members.

• Increasing production quotas.

• Saudi Arabia walking away from the deal.

• Offering financial incentives.