Listen: OPEC, Saudi Arabia And Vienna discussed on Financial Issues
"Speak. She will be questioned and whether she is released or not. We'll find out. Huge problem and concern and this reignite strayed worries. That's the number one concern that is one thing that is obviously going to be driving markets today in a negative way. The other big story and concern is oil. Oil. So here's the deal OPEC meeting in Vienna. Vienna as we speak, and they are in talks about production cuts earlier this morning or this afternoon early in Vienna time the. Minister of oil for Saudi Arabia indicated that yeah, there may may not be cuts in production or maybe cousin production. There may be increase in production slow down and they're talking about a million barrels. If there is. Well, most traders going into OPEC meeting believe that production cuts would be somewhere around one point three to one point five million barrels. They came out talking about one million. That's a problem. They believe that the cuts have to be greater the problem is Saudi Arabia's getting man with a lot of concerns from other OPEC nations OPEC nations say why do we have to cut all the time? Why can't the United States cut? So that is that is a big issue right now. Of course, the cutting OPEC will impact what they care most about which is Brent crude oil, which is at an unbelievable low right now. Impacts. Brent crude oil where if you s cuts productions we aren't as big a player in Brent crude oil or global oil supply as as OPEC is. So we're not gonna have the same impact on driving. Brent crude oil prices up. Of course, we will when it comes to driving. West Texas intermediate oil up now, it is expected that President Trump is going to be concerned about this and outraged as he has been asking OPEC for."