Saudi Arabia Holds Upper Hand as OPEC Seeks a Deal

The transcript discusses the potential for an OPEC deal, emphasizing the need for a consensus to maintain credibility and avoid bearish market sentiment. It highlights Saudi Arabia's strategic position, its negotiation tactics, and the role of Iran in these discussions. The text also explores the impact of market rumors and the leverage Saudi Arabia holds due to its spare production capacity.

What changes in rhetoric from OPEC have been observed recently?

Discuss the significance of spare production capacity in the context of OPEC.