Listen: Opec, United States, President Trump discussed on 0 Show
"Asian equities trucks overnight with the initial slump in the future setting the risk of tone. European equities opened in the red and trade around worst levels finding little support from reassuring comments from this morning's comment, the Chinese commerce ministry that the US and China have reached a higher level of consensus Eurostoxx off around one spot four percent. The Dax of around one six with all sectors in the red again that trade sensitive autos, minus steelmakers and semiconductors seeing the largest losses. Banjos have reversed. Some of the early losses. Germany slightly flats after entropy open Italian bond yields slightly higher subject against push and pull of liberal press headlines regarding their budget for currencies the US dollar edges higher. Japanese yen is almost fully reversed the strength, but still outperforms g ten. Here's the Australian dollar has full and for the third day base metals Rashit led by declines in nickel. Zinc and copper amid concerns of US and China's trade relations coming up relatively heavy afternoon from the US data wise with highlights including ADP initial jobless claims the ISM non-manufacturing as well as durable goods factory orders. Speakers this morning include Bank of England's Ramsden the softener will account from the Bank of Canada's polos and effects Bostick. That's it from me for more. Macro breaking news. It's squawk go on the Bloomberg terminal narrow thanks so much, Michael. That's your Bloomberg business flash. Here's Leon guarantees with more on what's going on around the world. Good morning may ram six. US senators have introduced a resolution that says Saudi Crown prince Mohammad bin Salman was complicit in the murder of a Saudi journalists. The measure is non binding, but it would put pressure on President Trump to act a former Catholic archbishop in Australia has had his conviction for concealing, child-sex-abuse quality. A New South Wales says it was reasonable doubts about Philip Wilson's conviction. Wilson became the world's may scenic Catholic cleric to be convicted of covering up sexual abuse when his trial ended in may. And if accession rescue operation is continuing to pan for five missing US marines after two aircraft was seven crew collided and crashed into the sea, two marines were rescued one of them is in a stable condition. Japan's defense ministry says the condition of the other one is not knowing Cleveland news twenty four hours a day on Aaron at tech talk on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. This is Bloomberg Markus. Thanks very much. Leeann now open plus has recommended an oil production cut during a summit in Vienna. However, a deal is yet to be reached on the size of the cubs needed this morning Qatari Energy Minister Saad Al Kaabi told Bloomberg about the country's choice to leave. Opec absolutely not politically this three on a strategy and were the biggest energy producer in the world is everybody knows we've announced we're going from seventy seven million to one hundred ten million tons, and we'll going outside the country in both oil and gas. So all is really not a big part of our strategy going forward in the growth since now for more. Let's go live to Vienna. Where Bloomberg's chief energy correspondent heavier blows is standing by forest. Good morning heavier. We got the Qatari angle, of course in these talks. But I want to kick it off with whether or not peck will be able to agree on the actual figures of potential cub today. Good morning from the NFL. I is going to depend not what happened. But according. In russia. You know, Russia has going forces with OPEC seems two thousand sixteen on an alliance that we call the class group an ease neuro on the hands of Russia to this. I wonder over production cut is going to be open delegates had speaker between eight hundred thousand dollars a million bar today. But very much all depends on the conversation today ongoing right now between Russian president Alexander Novak Russian minister of oil unexpended, obviously, Vladimir Putin when they decide what the contribution to the production cut OPEC hearing will move with it on numbers. Yes. So heavy as you say Russia crucial to this. But what will also be crucial as far as I understand is exactly how the message is put to the Marquette. So they might put a number out there. But ultimately, it's about showing the markets that they are committed about preventing oversupply, right? They want to send a message to the market to keep prices from going down. And I you they would like to see prices mobile high. But at the same time, they don't want to send a message to Washington what President Trump. Ellery listening and certainly tweeting about the oil price that OPEC is sending the price of oil higher because that is probably gonna run immediate drummed tweet this morning. So OPEC is really trying to achieve to get these contradictory sending the price of oil high get sent a message to the market and at the same time going to avoid that Donald Trump wakes up this morning, and this is to criticize OPEC on Twitter. Of course, this conundrum that opaque is facing is. Is very clear in Riyadh and for Saudi Arabia in particular. Well, obviously the the killing of Jamal. Supported the White House has thrown into crown prince Mohammad bin Salman is very important the conversations among other delegates is that the Saudis are in a difficult position. They really need the political support of President Trump and at the same time, they also need higher prices because we thought an oil points of around seventy five dollars a barrel, the Saudis cannot square the budget for next year. So it's a difficult situation for the Saudi delegation to push prices higher, but not too high. Have I don't wanna put you in a difficult position of predicting things. But I know if anyone we talked to in Bloomberg can do it your the person to ask with your depth breadth, and so many years of knowledge of covering OPEC's. So to get back to this number early this morning. We were talking about one million to one point three. You've just said eight hundred thousand to one million. I'm Rita send talking on TV said, the one million will be fine because they're going off the October base is she right? He's riding in in in a way because production in November was much higher. So they had one million from the October baseline Dawson could be wrong. But I think that the most like we're going to see is that OPEC is cultures and the place to send a message that he's trying to put up in the market, but not really to move the the oil price hike. The market is already here in the number of one million dollar today. We have being queuing the number teams yesterday. And certainly is not very impressed. Oil prices are down at the moment.."