Signs OPEC+ Action Not Imminent

The video discusses the current state of oil prices, with WTI around $50 and Brent just below $55. The market is keenly observing OPEC+ actions, especially Russia's response to proposed production cuts. The Azerbaijani oil minister suggests no emergency meeting in February, while Russia shows reluctance to act urgently. The Technical Committee recommends further cuts, placing pressure on Russia to respond, which could affect oil prices.

What are the current approximate prices for WTI and Brent crude oil as mentioned in the video?

• $40 and $45 a barrel

• $50 and $55 a barrel

• $60 and $65 a barrel

• $70 and $75 a barrel

What did the Azerbaijani oil minister suggest about the possibility of an emergency OPEC+ meeting?

• It will be postponed to April.

• It will definitely happen in February.

• It will happen in March.

• It is unlikely to happen in February.

Which country is showing reluctance in responding urgently to the oil market situation?

• Saudi Arabia

• Azerbaijan

• Russia

• United States

What is the recommended additional production cut by the Technical Committee?

• 200,000 barrels a day

• 400,000 barrels a day

• 800,000 barrels a day

• 600,000 barrels a day

What is the potential consequence if Russia does not respond to the proposals?

• Oil prices may increase.

• Oil prices may decrease.

• Oil prices may remain unchanged.

• Oil prices may stabilize.