These King Features Popeye cartoons from the early 1960s are geared toward little kids and are pretty lame for adults. This is a typical example of one, and the only laughs I got out of it were Popeye's mispronunciations of words.
The green Old Sea Hag is looking into her crystal ball asking whatever happened to the magic lamp. She sees an image of Olive Oyl buying it at an auction for five bucks. Olive is excited because she thinks got a bargain for good antique. The Sea Hag then steals it right from under Olive and Popeye's eyes.
She brings the lamp back to her pirate ship and has the genie provide her with tons of gold and other riches. Later, when Popye comes to get the lamp back, she has the genie reduce him to the size of a mouse. Popeye then has to deal with that dilemma.