Saudi Arabia Cuts Oil Output by Most in 8 Years

The transcript discusses the impact of OPEC and non-OPEC production cuts on global oil prices, highlighting the resurgence of shale oil production in the US. It examines OPEC's compliance levels, particularly Saudi Arabia's role, and the challenges posed by non-OPEC countries like Libya and Nigeria. The discussion also covers the potential impact of non-OPEC countries on oil prices and the influence of US shale production, especially in the Permian Basin, on the global market.

What factors could influence Saudi Arabia's decision to renew the oil deal?

How is the Permian Basin in Texas impacting the global oil market?