OPEC+ Cancels Its Press Conference

The transcript discusses OPEC's decision to cut production by 500,000 barrels and the complexities of which countries will reduce output. It highlights the friction among OPEC members, particularly between Saudi Arabia and Russia, and the impact of these dynamics on crude oil prices. The discussion also covers the budgetary needs of different OPEC countries and the influence of US shale production on OPEC's long-term strategy.

What challenges are faced by OPEC members in balancing their budgets?

In what ways is US shale production influencing OPEC's actions?