Will 2017 Usher in the Return of OPEC?

The video discusses OPEC's supply cuts and the expected compliance from member countries, highlighting the political weight behind the deal involving Russia and Saudi Arabia. It examines the impact of oil prices on countries like Venezuela and Saudi Arabia, noting that while the cuts help, they are insufficient to solve economic issues. The video also explores oil price trends, the cap at $60, and the potential growth in US shale production, which could destabilize the market if prices rise too high.

What is the significance of the price cap at $60 for oil production?

How have US shale gas producers prepared for potential price increases in oil?