IEA Says Oil Prices Are Rising to `Uncomfortable' Levels

The transcript discusses the current state of the oil market, highlighting the tightness and high prices affecting consumers and producers. It examines OPEC's production capacity, noting that Saudi Arabia and other Middle Eastern countries hold most of the spare capacity. The transcript also reviews OPEC's production performance, which has been below target, contributing to tight inventory levels. Finally, it looks ahead to future OPEC meetings and the potential for increased production to meet demand as the global economy recovers from COVID-19.

What factors are contributing to the tightness in the oil market?

How have oil prices affected consumers and producers according to the report?

What is the current production capacity situation among OPEC members?

What expectations are there for OPEC plus in early March?

What risks are associated with the oil market as the economy recovers from COVID?