Amrita Sen: OPEC Deal a Wake Up Call to Skeptics

The transcript discusses a significant OPEC deal where delegates agreed on a production cut of 32.5 million barrels per day. This decision is seen as a positive move to rebalance the oil market, benefiting oil-exporting countries. Indonesia's exclusion from OPEC is clarified, affecting the overall production numbers. Non-OPEC countries like Russia are also contributing to production cuts. The implementation and monitoring of the deal involve a high-level committee. Future oil prices are predicted to rise, potentially reaching $60 per barrel.

What was the production cut decided by the delegates?

What is the expected outcome for oil exporting countries following the deal?

What are the implications of Indonesia's status in OPEC?

What challenges might arise in monitoring the implementation of the production cut deal?

How might the production cuts affect oil prices in the near future?