What is OPEC? | CNBC Explains

[@hsetiono]

"The Stone Age didn't end due to lack of stone, and the Oil Age will end long before the world runs out of oil."

[@CSBSIRIKIVENKATASIVASURYASAI]

Elon will make it happen

[@إبراهيمالهلالي-ش7ش]

@@CSBSIRIKIVENKATASIVASURYASAI XD

[@jamesretreat]

Naive

[@mikelooby8362]

Certainly the other essential element required for this form of energy allthough slowed renewable will become exhausted to render it ineffective for energy. Renewable forms of energy also requiring this eliment will also become almost as equally ineffective or as ineffective as it could become more available as the other essential element .

[@ahmadelaiwat4234]

we still use stone

[@fcb319]

1:31 what does russia and saudi arabia doing with that much oil consumption? They even don't have any industry. Germany consumes less than these two countries?

[@coasterexpert7501]

Its because they are super wasteful with oil unlike in the rest of the world where it is a scarce resource.

[@Faisal-tc4ih]

The biggest consumer of oil is America😂

[@jerrycallo]

@@Faisal-tc4ih and their biggest industry is technology. They've all but closed down and exported industry which you would expect to consume a lot more energy than a bunch of IT people sitting writing apps, developing semi-conductors and watching server farms. By hey we have to use all that electricity so we can have the server farms to update our face-book status.

[@prakhargandhi1023]

Absolutely Brilliant

[@carlo6870]

I hope Im still alive when the time comes that we're more dependent on renewable energy than fossil fuels.

[@plendafuture7451]

Carlo Hije you will be if you live to see 2040 . The third industrial revolution will set in by 2030 look to Germany for innovation in renewable energy technology breakthrough .

[@aminkabuli9415]

Sorry to break it to you but you will be dead so long that your body have already become fossil fuel.

[@stavmiguel1125]

Hence why they bury your ass. I'm taking the viking way out. On a raft made of wood covered with different floral, then cast out only to be shot with an arrow that is on fire.

[@vehement-critic_q8957]

Renewable energy has its own cons also, it's more expensive and it interacts with the elements whether it is positively or negatively.

[@corgiwhisper]

Are you alive

[@n1kkri]

I wonder if the U.S. could produce the same 20% of oil it buys through OPEC but domestically? Would OPEC control be reduced in the U.S. The conversion to renewable in the U.S. is going to take a long time. I don't know how much longer we can take this pain.

[@mustangdemon87]

We could but they won't because they would loose money. Cheaper to buy and resell then produce and sell.

[@n1kkri]

At one time oil was so cheap the oil companies were not making enough to make it worth while. Price did go up and leveled off still significantly lower than it is today. The way things where going under Trump we would be selling oil to the world. Now we beg on both knees for oil. Something is wrong here. If it were cheaper just to buy then why do we need President Biden's day 1 Excutive Orders on Oil and Gas drilling and exploration?

[@제주작심]

대기.

[@쿠악퉷]

요약좀요

[@jimmykrookz8595]

No

[@anwarm2029]

OPEC President Says, Oil Market Rebalancing Still a Danger www.dailystockmarketnews.in/2021/03/opec-president-says-oil-market.html?m=1 OPEC other key exporters, for example, Russia a grasping named OPEC+, meet on Thursday and are required to examine permitting as much as 1.5 million barrels each day (BPD) back into the market to address request prone to be opened later in the year as immunization programs accumulate pace.

[@Baasicstuff]

Well from a guy that’s 50 years old and lived in the USA, his whole life. One thing I can tell you is every time we get a democrat president in office prices shoot up to 5 , 6 dollars a gallon. So vote Democrat get high gas prices and with all love as someone will say no that’s not the reason OK pal

[@rohandanwade7564]

40percent of world oil production 80 oil reserve...makes OPEC relevent in 21st century Vienna Austria twice annually to control the price through deliberation USA shell oil & Other clean alternative could influence the prices of oil...bit demand and supply plays the major roll in influencing prices... OPEC still relevant!

[@n1kkri]

Time to start pumping more domestic oil by demanding we remove Bidens Executive orders

[@jerrycallo]

OPEC is definitively relevant (any monopoly would be) but it's supply, not demand that controls prices (As with any monopoly). The demand side control only exists if you can live without the product.

[@syedmohammadaanasfarukh7549]

Qatar aint there anymore....

[@YujiroHanmaaaa]

Why? Qatar run off oil?

[@WPaKFamily]

first time I've heard a muslim say aint

[@yacineabelharrachi5888]

Still in it

[@benjamint.4776]

Did anyone notice the gas rising up in prices in the background at 1:19?

[@UJR78]

Lies lies lies yeah... OPEC is just a diplomatic front for big oil. - There are no shortages.

[@geethanjalibalaji5232]

if dependency on oil reduces .. then we can lead better life on earth.

[@abdullahfadilsulaiman7268]

and today 20/04/2020. the crude oil price is -ve.

[@jerrycallo]

The US imports oil so that it doesn't have to deplete it's own reserves. I don't think it's much more complicated than that, the unfortunate effect is that the US population will not benefit from lower gas prices no matter how much oil it discovers. Fracking has produced localized reduction in natural gas pricing, but not in proportion to what it produces. It's all carefully controlled to keep prices where they are. They just throw the public a bone every now and then to prevent a "peasant uprising" for gouging.

[@stewl5081]

Reduce Iranian oil 500000 gallons. 60 days. "Your girlfriend is screaming."

[@motohisaosaki7501]

10月2日から授業に参加します。

[@Bala-we4jn]

What is gold and silver age

[@닥터전자레인지-b4m]

대기고 1학년8반

[@user-br2cx4ws6j]

이이이이이잉

[@jimmykrookz8595]

No

[@hassanmahamoud9977]

Oil

[@areallybadname9701]

True

[@hasanpasha01]

Fact.

[@wilsonkennedy1530]

What happens when Human right is violated ? Who pays?

[@lydmonkey4593]

0:33 there's that one lonely country xD

[@Xammie3000]

300,000,000 barrels of 🛢

[@jerrycallo]

So it exists basically to create a monopoly so that it can fix prices.

[@acegikm1300]

Why all oil importer countries doesnot come together and form like opec because oil pumping cannot be stop storage will full so if opec increase price they all stop buying

[@abdulsd2268]

Because the producer is the one who decides

[@대기인의가슴으로]

Man is Jeongsi.

[@ShuttingDownPermanently]

Which country has the largest oil reserves in the world?

[@daposophos]

Venezuela

[@zoroaniki8555]

But sadly their country having hyperinflation. Money for nothing ​@@daposophos

[@douglasengle2704]

China lacks large internal supply of crude oil which is why it has pushed so hard for battery electric vehicles which it can fuel from coal fired power plants it can greatly supply internally, but does import coal for power use and especially steel making. More stone is used today per person in the modern world than any other time in history. We also use other materials with more advanced abilities. The expectation is much more energy will be used per person as further advancements take place. That is why incrementally cheap nuclear power electricity was expected to take over in the 1960s going forward. A double width 1000 km/h maglev train in the mid 2040s needs to have nearly free incremental electricity.

[@NshimiyimanaPatrick-t9h]

Mwadusobanuriye opec

[@voicelovers2692]

대기고

[@쿠악퉷]

요약좀요

[@jimmykrookz8595]

No

[@marc-alexandrefavreau6784]

25-50 years

[@harrysnuggets2799]

Equador is left recently

[@승범고-m8b]

노무현

[@jimmykrookz8595]

No

[@ShuttingDownPermanently]

How many barrels of oil does the U.S import every month?

[@jessieshepherd9487]

2:56 300 Million barrels per month

[@marc-alexandrefavreau6784]

Vienna

[@timg185]

OPEC has no desire to keep oil prices low. Because we have a weak President that won’t do anything about it.

[@MmC-vn1mf]

Cry harder, maybe the price will drop😂

[@sam-mw1rd]

And now oil price immediately drop even negative, LMAO 😅

[@yacineabelharrachi5888]

What you talk about is the us oil dump

[@hasanpasha01]

What

[@tvgirltochelseaHWG]

Daykey highschool

[@GeneralGayJay]

I thought cartells are illegal.

[@Soothsayer210]

what is OPEC? a dying entity in its last throes of life.

[@ernestined.lawrence9514]

Supply and Demand the real reason for poverty!

[@ernestined.lawrence9514]

Not your every day Joe, Arabia?

[@odettematifas6194]

algeria

[@distorsyband1063]

java global

[@glennhertel1165]

How corrupt is this, and is this on the Stilt

[@Chronoir3]

This video aged badly

[@nomannoman5655]

OPEC Fahli King Shah Salman. Pakistan economic that fast Nauman Khan job posibal at after credit give. OPEC. Presidant Nauman Shah

[@Atipat12]

🤣🤣🤣🤣🤣🤣🤣

[@maxwulz9283]

Joo

[@chuckgates1171]

Bicycles public transpotation walking

[@linusschmutz3985]

Mafia

[@Xammie3000]

107 comment

[@angelevstatiev8522]

Blok cein 1briks ok 2024😊

[@distorsyband1063]

migas export inport world.

[@relativity1581]

Cnn shouldn’t explain anything to anyone