VOICED : OPEP acordo recortar produccion por primera vez en ocho anos

OPEC reached an agreement to cut oil production for the first time in eight years, reducing output by 1.2 million barrels per day to 32.5 million. This historic decision aims to rebalance the market and reduce excess stock. While most members will cut production, Iran, Libya, and Nigeria are exceptions. For the first time, non-member countries like Russia are also participating, with Russia cutting 300,000 barrels daily. The announcement led to an immediate rise in oil prices in London and New York, addressing the recent drop in oil prices below $50 per barrel.

What significant decision did OPEC make for the first time in eight years?

• Increase oil production

• Disband the organization

• Cut oil production

• Maintain current production levels

Which countries were exempt from reducing their oil production under the new OPEC agreement?

• Saudi Arabia, Russia, and Venezuela

• United States, Canada, and Mexico

• Iran, Libya, and Nigeria

• China, India, and Japan

What role did Russia play in the OPEC agreement?

• Refused to participate in the agreement

• Agreed to cut its oil production

• Maintained its current production levels

• Increased its oil production

What immediate effect did the OPEC announcement have on the oil market?

• No change in oil prices

• An increase in oil prices

• A decrease in oil prices

• A decrease in oil demand

What was the price of oil per barrel two years before the OPEC agreement?

• $125

• $100

• $75

• $50