Oil Output Discrepancies Cloud OPEC Deal for Market

The video discusses the discrepancies between OPEC's official production estimates and the actual outputs reported by member countries like Venezuela and Iraq. These differences complicate efforts to reach an agreement on production cuts or freezes. The challenges of coordinating among independent countries within OPEC and potential new members like Brazil and Kazakhstan are highlighted. Despite recent volatility, oil prices remain relatively stable, influenced by the dollar's performance. Saudi Arabia's need to maintain credibility may drive a deal. Potential upside for oil prices is linked to macroeconomic factors, including World Bank targets and positive GDP and earnings growth.

What is the significance of the World Bank's crude oil target mentioned in the text?

What factors could potentially support the crude oil market according to the text?