Why OPEC Is Unlikely to Curb Output

The video discusses the ongoing debate among OPEC ministers about the effectiveness of their strategy since November 2014. While some ministers believe the strategy is working due to production declines in the US and Colombia, others attribute rising oil prices to global supply disruptions. Concerns persist about price stability if Nigerian and Canadian production resumes. OPEC faces challenges in rebuilding unity after a failed meeting in Doha, with a focus on electing a new Secretary General to demonstrate cohesion.

What are the main reasons for the rise in oil prices according to the text?

How have the production levels in the US and Colombia changed according to the discussion?

What concerns do the Venezuelan oil ministers have regarding Nigerian and Canadian production?

What was the outcome of the meeting held in Doha in mid-April?

What is the significance of choosing a new Secretary General for OPEC?