The OPEC deal is a sign of ‘tough economic circumstances’

Daily News Article - December 2, 2016

Questions

NOTE: Watch the video under "Resources" below on what OPEC deal means for the U.S.

1. What is OPEC? (When was it established? List the member countries. What percent of the world’s oil do OPEC members produce? )

2. The first paragraph of a news article should answer the questions who, what, where and when. List the who, what, where and when of this news item. (NOTE: The remainder of a news article provides details on the why and/or how.)

3. What is the significance of the OPEC agreement?

4. By how many barrels per day (bpd) have OPEC (and non-OPEC members, including Russia) agreed to cap output?

5. Why was a finalized OPEC agreement doubtful?

6. What is believed to be the main reason for OPEC finalizing the agreement?

CHALLENGE: Read the “Background” below [which was originally published by Business Insider as the second half of this article]. Write a one paragraph summary that explains why Saudi Arabia has signed on to this agreement.