Saudi, Russia May Agree to Moderate Oil Output, Vanda Insights Says

The transcript discusses OPEC's strategic changes since 2017, focusing on their collaboration with non-OPEC producers to manage market surplus. It highlights OPEC's hands-on approach to balancing the market, evidenced by their production adjustments in response to declining Venezuelan output. The transcript also addresses OPEC's concerns about a potential surplus next year and anticipates discussions in upcoming meetings to address these issues.

What does the term 'reinvented OPEC' refer to in the context of the text?

What is the expected outcome of the upcoming meeting mentioned in the text?