Oil Carries Turbulence Into 2019 as Prices Slide on China Fears

The video discusses OPEC's decreasing influence on oil prices due to the lack of interest from major players in joining the group. It highlights the impact of China's economic growth on oil demand and the role of US shale production in the global market. The discussion also covers the dynamics within the OPEC Plus group, emphasizing that countries act in their own interests despite claims of unity. The video concludes with insights into the challenges faced by OPEC in maintaining control over oil prices.

Discuss the relationship between OPEC and non-OPEC players like Russia in the oil market.

What challenges do OPEC producers face in breaking even on their budgets?