IEA Sees Oil Glut Clearing by End of 2021 Amid Demand Strains

IEA Sees Oil Glut Clearing by End of 2021 Amid Demand Strains

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Business, Life Skills

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The transcript discusses the potential for oil prices to drop to $20 if certain conditions are met, such as prolonged COVID-19 impacts and a breakdown in OPEC discipline. It highlights OPEC's upcoming meeting to decide on oil supply adjustments and the market's capacity to absorb more oil. The discussion also covers the challenges in data transparency, particularly in non-OECD countries like China, and the decline in countries reporting to the Jody initiative, affecting the accuracy of oil supply and demand data.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors could lead to oil prices dropping to $20 according to the transcript?

Decrease in oil production and increased demand

Prolonged COVID-19 crisis and breakdown in OPEC+ discipline

Stable COVID-19 situation and increased OPEC+ discipline

Increased demand and stable OPEC+ discipline

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main concern regarding the OPEC+ deal discussed in the transcript?

The deal is not sophisticated enough

The deal does not consider monthly market assessments

The deal is too rigid and lacks flexibility

The deal's flexibility and the market's short-term fragility

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a significant challenge in understanding global oil supply and demand?

Excessive data transparency in OECD countries

Lack of data transparency in non-OECD countries

Over-reporting of oil stocks in China

Too many countries reporting to the Jody initiative

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the number of countries reporting to the Jody initiative changed?

Decreased from 36 to 14

Remained constant at 36

Increased from 14 to 36

Increased from 14 to 19

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the issue with the reported oil stocks in China?

They are overestimated by the Jody initiative

They are not officially reported numbers

They are underestimated by the OECD

They are officially published figures