OPEC Needs Steady Oil Price, Ayers Alliance's Barratt Says

The video discusses the challenges OPEC faces with compliance and non-compliance in oil production quotas. It highlights the desire of countries like Iran, Iraq, and Venezuela to see higher oil prices and the potential impact of trade wars on the market. The discussion also covers the role of major players like Saudi Arabia and Russia, and the effects of Chinese tariffs on the US oil market, particularly the widening discount between Brent and WTI.

Discuss the potential consequences of increasing oil production on market prices.

What role do major oil-producing countries like Saudi Arabia and Russia play in the global oil market?