Oil in New Era as OPEC Refuses to Yield to U.S. Shale

The transcript discusses OPEC's current strategy of prioritizing market share over oil prices, especially in light of increased US oil production. It highlights the potential risks on the supply side, including uncertainties in Libya, Iran, and Nigeria, and the demand growth driven by China. The discussion also covers the financial challenges faced by OPEC members like Nigeria and Venezuela due to low oil prices. Additionally, it addresses concerns about future investments in oil production if low prices persist, as noted by the IEA.

What is the significance of the upcoming OPEC meeting in June?

Which countries within OPEC are likely to feel the pain from lower oil prices first, and why?