OPEC+ Weighs Reply as India Begins Oil Stockpile Release

The video discusses a coordinated action by the world's top oil consumers, including the US, China, Japan, and India, to release oil stockpiles. India's release of 5 million barrels is largely symbolic. The focus is on how OPEC Plus will respond, as they are set to meet soon. Current oil prices are analyzed, noting they are not high by historical standards. The discussion concludes with thoughts on market stability and recovery.

What does the comment about oil being remarkably cheap imply for OPEC's decisions?

In what ways does the historical context of oil prices affect current perceptions of a crisis?