Goldman's Currie: Chances of OPEC Deal Success Are Low

The transcript discusses the potential for an OPEC production cut agreement, highlighting increased probabilities due to Saudi Arabia and Russia's willingness to participate. However, challenges remain due to higher current production levels and the fast cycle nature of shale production. Higher oil prices could incentivize more production, potentially negating the effects of any cuts. The discussion also covers risks associated with production cuts and the incentives for countries like Libya, Iraq, and Nigeria to increase production, complicating efforts to rebalance the market.

In what ways could higher oil prices impact shale production according to the discussion?

What challenges do countries like Saudi Arabia face in balancing production cuts with increasing output from excluded countries?