CLEAN : OPEC holds oil output level triggering price collapse

The video discusses a conference decision to maintain oil production at 30 million barrels per day, as agreed in December 2011. Despite a decline in prices, the decision-makers emphasize patience and observation, rather than rushing to action. They stress that the price drop does not reflect a fundamental market change and plan to monitor how the market reacts to the production level.

What does the speaker believe about the decline in price?

What will the speaker do in response to the market behavior?