Why OPEC is cutting oil production

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Description: CNNMoney’s John Defterios explains what the first reduction in output since 2008 means for the oil market and the consumer.

Source: Fortune.com – video report

Date: Dec 02, 2016

Link: http://money.cnn.com/video/news/2016/11/30/why-opec-cut-oil-production.cnnmoney/

Questions for Discussions:

  • Why is OPEC cutting oil production at this time?
  • Do you think consumers will readily adjust to the recent rise in prices?
  • At what price do you think oil would be “too expensive” – as expressed in a unit of gasoline?

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