{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='OPEC and allies likely to extend production cuts at meeting' data-url='/boclips/videos/5c54d69cd8eafeecae204f13' data-video-url='/boclips/videos/5c54d69cd8eafeecae204f13' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nOPEC and allies likely to extend production cuts at meeting\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eWith crude prices at two-year highs, OPEC (Organisation of the Petroleum Exporting Countries) and allied oil producing-nations appeared ready to agree to extend their output cuts at a meeting after Iraq's energy minister said there was...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eWith crude prices at two-year highs, OPEC (Organisation of the Petroleum Exporting Countries) and allied oil producing-nations appeared ready to agree to extend their output cuts at a meeting after Iraq's energy minister said there was broad agreement for such a move on Wednesday.\u003cbr/\u003e              Benchmark crude prices are now close to 60 US dollars a barrel, depending on the grades, up almost 20 percent since a year ago. \u003cbr/\u003e              The bets have been that OPEC and their non-OPEC partners will try to keep supply tight by prolonging the daily 1.8-million-barrel output reductions agreed to a year ago.\u003cbr/\u003e              For experts foreseeing such a scenario, the only question is for how long. \u003cbr/\u003e              Some market watchers are predicting that production quotas first agreed on in November 2016 will now be stretched into all of 2018, and the comments by Iraq's Jabbar Ali Hussein al-Luiebi strengthened such expectations.\u003cbr/\u003e              \"We uphold ... extending the oil production cut for nine months,\" al-Luiebi told reporters on Wednesday in Vienna, adding there was broad agreement among all OPEC ministers for the move.\u003cbr/\u003e              Such concerted action would be renewed evidence that OPEC is once again a major player in controlling the oil market.\u003cbr/\u003e              The ability of the 14-nation cartel to regulate prices and supply made it a sometimes feared factor for consuming nations in past decades. \u003cbr/\u003e              Most extreme was the 1973 OPEC oil embargo on Western consumers that led to widespread economic crises.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              Vienna - 29 November 2017\u003cbr/\u003e              1. Russian oil minister Alexander Novak arriving, greeting officials and entering building \u003cbr/\u003e              2. Various of Saudi energy minister Khalid al-Falih arriving\u003cbr/\u003e              3. Exterior of OPEC (Organisation of the Petroleum Exporting Countries) building\u003cbr/\u003e              4. Police guard outside building\u003cbr/\u003e              5. United Arab Emirates oil minister Suhail Mohamed Al Mazrouei arriving\u003cbr/\u003e              6. Various of OPEC board meeting in progress\u003cbr/\u003e              7. Close of camera monitor showing Iraqi oil minister Jabbar Ali Hussein al-Luiebi\u003cbr/\u003e              8. Wide of media briefing with al-Luiebi\u003cbr/\u003e              9. SOUNDBITE (English) Jabbar Ali Hussein al-Luiebi, Iraqi oil minister:\u003cbr/\u003e              \"We have reduced our oil production as well as export and our conformity level accounts for more than 80 percent.\"\u003cbr/\u003e              10. Reporter talking\u003cbr/\u003e              11. SOUNDBITE (English) Jabbar Ali Hussein al-Luiebi, Iraqi oil minister:\u003cbr/\u003e              \"We uphold the extension, extending the oil production cut for nine months, as stipulated in the declaration.\"   \u003cbr/\u003e              12. 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