OPEC's Barkindo on 'Historic, Landmark Decision'

The interview discusses a historic OPEC deal involving both OPEC and non-OPEC members, marking the first joint accord since the Millennium. The deal aims to cut 1.8 million barrels from the market to rebalance prices. Iraq's participation was crucial, given its previous absence from supply management. An upcoming meeting in Doha will finalize commitments from non-OPEC countries. The agreement is expected to influence market prices significantly, with a focus on reducing stock inventories to achieve equilibrium.

What was the significance of the deal mentioned in the interview?

What were the challenges faced in getting Iraq onboard for the agreement?

How did Iraq's involvement in the supply management arrangements change over time?

What was the response of oil prices following the announcement of the deal?

What role does OPEC play in the global oil market according to the interview?

What does the term 'equilibrium price' refer to in the context of this agreement?

What is the target withdrawal amount from the market as per the agreement?