35 Burst results for "Opec"
Energy ETFs are surging as crude oil tops $64 a barrel
"Oil futures are having quite a day of the OPEC plus cover to countries met today and decided to leave most of their existing oil production cuts in place. And that Spike the Texas tea features up about 5% right now, $64.33 a barrel The equity markets. Meanwhile, take a turn into the red Writer on 45 minutes Go after J. Powell, the Fed chairman spoke with the exception I should say of the energy stocks. Companies like Diamondback Marathon has Chevron all up between 2.5 and 10%. But there are more losers than gainers right now. Among the activities After a Powell warned that the reopening economy could cause inflation to pick up at least temporarily. Not that he's all that worried about it. At the moment about the 10 year Treasury yield sure took a jump after that, now up at 1.5 to 6%. The S and P. 500 is down. 47 of the Dow is down to 61. But NASDAQ is down to 66. Now the NASDAQ is in the red for the year checking volatility at the at the CBO. We the vics is now up about seven. And half
Oil Rally Stumbles On OPEC Uncertainty
"After a major sell off overnight. We're just short of $63 a barrel RBC, saying that the Saudis are going to signal on March end to their one million barrel per the output cut. Just in the last few moments. We also had another call out from and said they're looking at potentially 750,000 barrels a day that could be taken out. So we wait to
Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90
"Long time. Saudi oil minister Shake Zaki Yamani He led the kingdom through the 1973 oil crisis, has died in London at the age of 90 food in Mecca. You money had been appointed Saudi oil minister during the 19 sixties as the wealth that oil brought to Saudi Arabia was starting to pour in. He was instrumental in setting up the oil producers organization. OPEC Throughout his long career, he remained a voice of moderation in OPEC, but by 1973 Arab demands for oil to be used as a weapon in the Israeli Palestinian conflict could no longer be denied. 1975 and OPEC meeting in Vienna was infiltrated by the international terrorist Carlos The Jackal Shake your money had been marked for assassination on was only reprieve when last minute concessions were made. To BBC Sebastian Usher the
Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90
"Made Zaki Yamani has died in London at the age of 90 shake. Imani was best known for his role as head of the oil cartel OPEC in the 19 seventies. He was the face of the oil embargo in 1973 when oil prices quadrupled. He also survived being taken hostage and marked for assassination by Carlos the Jackal. BBC news.
Oil price rally continues as WTI crude hits one-year high
"Wt I crude oil continuing to gain although we're off session highs We've got evidence that OPEC plus is continuing to whittle down on global inventories. Chinese stockpiles now at the lowest level in nearly a year, and earlier today, the government in the states reported that Crude stockpiles in the most recent week. We're down by a million
Saudis Take Charge of Oil Market With Surprise Output Cut
"Cutting its oil production by million barrels per day as the state of the global economy remains tenuous most other members of opec will keep their production stable. More from npr's camilla domino. Some oil producing states are eager to boost their oil output as they hope vaccines will eventually restore oil demand but saudi arabia. The leader of opec is worried about pumping too much oil too soon. So the saudis announced a surprise cut which will reduce saudi revenue but prop up oil prices overall. Here's saudi energy minister prince abdulaziz bin. Someone tweak other cartel members will hold production steady while opec ally. Russia will increase output slightly. Us producers who do not participate in opec cuts will benefit from the saudis pushing prices up already. Us crude prices hit fifty dollars for the first time. Since february camilo domino's npr news wall street. The dow is up
US stocks rise in morning trading as 2020 winds down
"Right now. They are moving higher this morning of this holiday shortened trading week. Looking at Dow Futures are up. 80 points a trading his thin by the way, But on the agenda today for investors pending home sales data will be out 9 a.m. your time. Oil, pushing higher on the third weekly decline in screwed stockpiles Oil $48 a barrel, However, trading is thin, too, in that market inventory data will be out later this morning. OPEC meets early next week We're the group will decide whether to add an extra 500,000 barrels a day of supply to the market in February, Saudi in Russian officials have reiterated their commitment to the group's agreement to support oil market stability. And Apple has a lead over Amazon is this year's best performer among large tech stocks. Apple is now up 84% for the year after rising 13% this month, according Donahoe Bloomberg Business on NewsRadio, some 40 ktrh
How Will Natural Gas Fare in the Energy Transition?
"Welcome occurred oil on a wild ride today. After opec slashed global oil demand forecast for next year the organization citing harsher corona virus crackdowns across the globe energy so the worst performing sector this year. But our next guest says there's one name the space that is fueling up for some gains. Let's welcome back kate fateh. Ceo of grace capital. Kate great to see you again. You're looking at chenier energy. What's your top reason to be engineer. So okay bottom line. The world needs energy. Okay so there's a energy demand story and then those chenier money story. We all want energy the comfort of knowable sources. But this is not possible. Can we need an src. Balance sustainability and reliability and cost Energy gas. Natural gas is the way allergy can play the role chenier exports allergy globally. If you can believe it melissa. Twenty five percent of energy globally still comes from coal. Imagine natural gas replacing all of that. So that's the energy story in terms of chenier seven percent growing dividend. They probably went through the worst environment for energy this year and they made it valuation this cheap. The fundamentals are good. There's no commodity price risk. These are take or pay contracts. Okay that means they get paid no matter what there's no volume whisk there's no price rates so that that's why electioneer and that seven percent dividend is therefore covered karen. You've looked at this name in the past. I'm just wondering if i hear what you're saying about tigger pay contracts and that that's a steady stream of income which is good and investors like what about the longer term biden administration if they're against fracking. We'll see maybe they supply of natural gas available to be in a pipeline ship decreases. Does that worry you. At least you know we have the. Us is awash natural gas. We probably have a hundred year supply of natural gas fracking. No fracking so natural in. It's really cheap. Natural gas is like really cheap. Right now So it's not something that keeps me up at night. Do you have to believe kate. In the overall energy story in order to believe in chenier or can you see the sector overall sputtering little bit if you will. If they're more lockdown place in the short term yes you can see that bottom line. The world needs energy. i would love for. It's all come from solar wind. Biomass were not there yet. And we're not going to be there for a while so you need energy. Natural gas is better than coal gases. Better than oil. And that's why. I think chenier is the way to play it again. You don't want you're not worried about the price will going up going down. What's going to happen opec this that note kate. Great to see you thank you.
Deadlocked on oil production cuts, OPEC and its allies to resume talks
"Heard right now Lower $44 a barrel as OPEC haggles over output policy. OPEC's discussions are now focusing on proposals for a gradual easing of production cuts over several months following talks between Russia, Saudi Arabia and the United Arab
"opec" Discussed on Wall Street Breakfast
"Oil demand ac- normalizing to previous levels by twenty twenty two. There is no doubt that nicola will be closely watched next week with the expiration of a share lockup and the company facing a deadline for completing anticipated partnership deal with general motors. Shares of nicole has been swinging wildly over the last few weeks. And we'll large technical selling pressure after december. I if insiders decide to take profits including founder and former chairman trevor shares of nicola are up more than forty percent over the last six weeks the week ahead could see more focus on the implications for the tech sector of a biden presidency and gop senate geopolitical risk has been hanging over the heads of apple cisco and semiconductor vendors highly exposed to china from a supply. Chain perspective reminds wedbush securities. Analyst dan ives. In addition there is also alphabet and facebook. Which could face less regulatory pressure under a split government scenario a second key dynamic. Play out in the tech world over the next twelve to eighteen. Months is the secular growth areas around cloud and cybersecurity. That are seen eye-popping demand trends. We have not witnessed in our twenty plus years of covering tech stocks on the street noted. Ives he says stalwarts. Such as microsoft and salesforce are front and center on this cloud path while the underlying infrastructure and platforms enabling. This shift. Stand to be major benefits of this spending surge. Global look alibaba. Tencent and by do look position. Strategically to benefit from the acceleration of cloud spending across the us europe and asia pacific us auto retail sales for november are expected to be up nearly three percent from a year ago when adjusted for the same number of selling days. According to a forecast from truecar fleet. Sales are expected to be down. Twenty one percent. During the month average transaction prices are projected to be up nearly five percent from a year ago. Total sar is expected to decrease four percent from a year ago to sixteen point..
What Is The Future Of The Oil Industry?
"Oil, and gas powered a century of economic growth and damaged the planet's climate in the process which leaves the oil and gas industry in an existential panic in the short term, demand is down because of the pandemic in the long term. Well, there are two new reports out offering very different visions of the future NPR's Cumulus Domino ski covers energy and joins us now hi Camilla. Tell us about these two new reports where are they coming from? Yes, so they offer very divergent perspectives and let's start with the idea that oil will come roaring back. This is assuming that once the pandemic is over, someday, it will be over and the economy will recover oil will come back a demand will be there. The developing world is GONNA guzzle more and more of it back to business as usual. This is the view that was laid out by OPEC, cartel of oil exporting countries in their annual report called the Wu. then. Yeah the WOO WOO oil. Then there's different version of the future that was laid out by the International Energy Agency which a very influential group they said maybe that happens, but maybe the world takes action on climate change and if appropriate action is taken, oil demand could start going down and might even have peaked already. So is the main divergence in these two reports the assumptions about whether the world will take climate change seriously and to to slow it down. Yeah. That's the fundamental disagreement in this debate has been around for a long time while the World Act aggressively when will that happen? When will oil peak but right now this pandemic, which is you know we use the word unprecedented so much but something unprecedented has happened. There's a dramatic drop in demand for oil massive job losses across the sector, and that has made some people wonder could something else unprecedented happened? Could this unusual moment lead to an unusual level of action from world? Governments Arrive Faster or are you OPEC and you look at this and say the pandemic is just a blip and we'll be back to normal once it's over I'll note to there's there's one thing that both sides and pretty much everybody agrees on which is that the current pledges, the policies that are in place from world governments now are not enough to keep global warming at the two degrees Celsius that was committed to Paris or to shift the world meaningfully away from relying primarily on oil. So. That would require a huge transition from from what's currently happening or oil companies making those kinds of transitions i? Mean they have to make decisions today based on which one of these two futures they think is the most likely, right? Yeah. Absolutely, and you can see that split playing out a company's just to take two examples Exxon is doubling down on fossil. Fuels predicting a future in which there is still robust demand for gas and they. They'll be there to meet it meanwhile BP formerly British Petroleum they're they're projecting the world might be moving really aggressively and in they want to be there pivoting renewables trying to figure out how to make money money on a world that's transitioning away from their core product Some investors Nicole about so companies right now are placing their bets betting everything on which version of the world they think is more likely. It's hard to imagine any higher stakes here not only the future of those massive companies but like the future of the planet potentially literally I mean Exxon is right on the future is a lot like the present we're. Burning lots of oil which has had the disastrous climate consequences that we see unfolding and if BP and a lot of European super majors are correct. Then governments around the world might penalize carbon emissions, promote renewables. It would mean huge shifts in the energy industry, but it would help prevent the worst impacts for the planet like you said, NPR's Domino Ski. Thank
Stuart Stevens was an uncompromising Republican until Donald Trump
"Stuart. Stevens, thank you so much for coming on the PODCAST. Great. Longtime fan first time caller. Will thank you. You know you sent me a DM on twitter asking. For me to to read your latest book and where could you where could you send it and I thought if Stuart Stevens is sending me a message about a book he's written I probably need to read it. The name of the book is it was all a lie and I am so glad I, read it because in some ways it was. It was Cathartic for me to read because you know it's so secret. I'm a Democrat will little left of center and always these suspicions about the Republican Party. But you as a creature, the Republican Party someone who helps set up the Republican Party to hear you. Just. Sort of. What's the right? What's the right word to describe? What you do in this book before we dive right in. Look I. started. On the quested ended with this book asking myself how is trump could happen? and. You know kind of the old saying that your high high-scoring English if you can't ride that, you don't really understand it. So for me, it really began is a very personal quest You know two, thousand, sixteen, a lot of people were wrong about Donald trump it's hard to find anybody was more wrong than me. I didn't think he'd win the primary win the general and I realized in retrospect a lot because I didn't want to believe it. And then I went through this period after his elected, a lot of my friends did like Donald Trump is it really the Republican Party? But I don't really see how you sustain that. if part of the realities of what trump is brought to us as a death of truth. I think being truthful is all the more important. And it on one of the things that really drew me to the Republican. Party. Was the concept of personal responsibility. which now we've become the ultimate victims. Party. So for me I just kind nutty idea that if I believed in, I turn responsibility, it should be the first one of responsibility. I. Didn't want to write. You know the trope of books in DC of if only they'd listen to me. I couldn't write that because they did listen to me. I couldn't sort of like going them. So that's that's what led me to write the book I think it's a combination of a Mayor Copeland of your. That is the word I was looking for, and I couldn't find it was it was may Copa on on page thirty, six at the end of a gets the first chapter. Is a paragraph that I think encapsulates what you were just saying but also the premise of the book you write, how do you abandon deeply held beliefs about character personal responsibility, foreign policy, and the national debt in a matter of months you don't the obvious answer is those beliefs weren't deeply held in the end the Republican Party rallied behind Donald. Trump. Because if that was the deal needed to regain power, what was the problem because it had always been about power the rest, the principles, the values, it was all a lie. that. Is when I read that I underlined it practically ripping up the paper and underlying underlining it because that's what I've been seeing and has taken my breath away about the Republican, Party in the age of trump. All of these things I grew up hearing and learning from Republicans have been completely junked. You're right. We were wrong. I. It's I don't think we've really seen a collapse of a political party A. The way the Republican Party's collapsed in modern American history and probably not American history. To me, the Republican Party doesn't exist political party now exists cartel. WHY DOES IT Exist? It exists to be Democrats. That's not a political theory. It's just a marketing principle. It's like asking OPEC with the higher good of OPEC. Sell oil what an Arco. Darker curtail say what are you guys really trying to do tried to sell dope man and you know what's the Republican Party is trying to beat Democrats. and. To know. Tower to no purpose I think other than power
Stocks start August with solid gains, with the Dow rising 235 points
"Stocks started August with solid gains, however. Looks like it could be a tough act to follow. Today, though stock futures are down this morning, but yesterday let's dwell on that a little because it was pretty good. The NASDAQ closed at a record high, boosted by stocks like Apple and Microsoft. At the closing bell on NASDAQ was up 157 points. The Dow is up 236 t S and P 500 was up 23. Oil prices are down a little bit today. International benchmark brand crew, down 12 cents a barrel right now is a 44 03 West Texas intermediate crude is down by a dime. Prices were up earlier in trading because of positive economic news from the US, Europe and Asia. That gave way to worries about rising Corona virus cases globally and oversupply. With OPEC starting to lift output
What Happened to Ofek 12-15?
"But first we have a small matter that we are following with lert interesting, great concern as part of an occasional series that we call the promise podcast ponders the cipher of satellite skipping Siri atoms signification at four. Am this past Monday at the? Airbase and Israeli made Chavez. Rocket was launched without a hitch, carrying a payload of an Israeli made electro optical reconnaissance satellite names sixteen, both are the work of the Space Administration of the Director of Defense Research and development of the Israel. Ministry of Defence Working together with the Israel aerospace industry or I a I. The launch was. The rocket, arguing with grace into a sky, just beginning to grow and glow lighter at one speeding and receding towards the heavens, a press release attributed to the satellite quote. Unquote advanced capabilities which are really the BIS kind of capabilities for satellite to have the first OPEC satellite Ofek means horizon by the way was launched in September nineteen, eighty-eight, almost thirty two years ago, that was Ofek one over to launch in one, thousand, nine, hundred, ninety, three, and nineteen, ninety five, and so on on Monday just a few hours after the successful launch and exultant I'm known Harari the head of the Space Administration of the Director of Defense, research. Research and development of the Ministry of Defence was interviewed on the morning radio, and he explained the enormity of the achievement that he oversaw and he starts in formation Li like this quote, he says the satellite is an optical observation satellite very similar to the last satellite. We launched a few years ago. Eleven at which point the interviewer commonly risk indices name, says quote. Wait this. You have to explain if the last one was OPEC eleven. How come this one is sixteen, so Harari says quote. It's a lovely name affects sixteen I love it. Who says the numbers have to come in order and leaves skin, says quote no. No No, you have to explain this thing. You had nine Victoriano fake eleven, and then you skipped. Tawfiq Sixteen Harari says yeah. Is there anything wrong with that? LIBA, skin, says no, no, no, that's nice, but it demands an explanation. Harari says quote. I explained it to you. You're just not willing to accept my explanation. Leeza Skin says that's right Harari says we'll have a cup of coffee I'll explain leave says. Are you serious? Harari says yes, very serious. Liebskind says it's like we have January and February. And then we jumped April and say marches and good for US Harari Says No, it's like you call your girl Mikal. Mikal and your boy, Asaf, and then later you name your third kid. You're those are the names of my kids by the way what's wrong with that leaves could said that's not a good example. Why would you jump from eleven to sixteen? Harari said we found that. That's what fits our plans. And it goes on like that. Masses website says on the subject quote as Israel's not known to have attempted any satellite launches between the OPEC eleven and sixteen missions, it is not immediately clear whether twelve thirteen fourteen and fifteen designations have been skipped or apply to other spacecraft possibly satellites that have not yet been launched then quote. Quote the generally considered authoritative in such matters, defense update website noted dryly that the Israel Ministry of Defence Announcement did not explain the whereabouts of OPEC twelve through fifteen and quote, and I admit I cannot let this go. I tweeted at times of Israel Defense reported our gross who has one of the best sense of the absurd in journalism, also one of the sense of humor to see if he knew and he answered quote, so we asked about this and the press conference, and we didn't get actual answer what you don't like. The name was literally the response. The I official insinuated that twelve to fifteen blown up on. On launch we would have heard about it. However, it does remind me of an apocryphal practical joke. I heard of paint the numbers, one two and four on the back of three pigs, and let them loose in a school so that even after they're all caught, the administration continues to search for the missing number, three and quote to which someone named Ryan, replied in a tweet who gives Oh fach, which is fair enough, but I cannot let go if anyone out, there has seen OPEC, twelve or thirteen or fourteen or fifteen. Please let me know apparently I. Give fact
Oil steadies after price jump; investors wait on OPEC meetings
"The week ahead sees a report on May retail sales, report land, and the lap of investors with economists, expecting just over five percent increase over April's depressed level energy investors will be watching developments out of to day OPEC meeting on supply
"opec" Discussed on Bloomberg Radio New York
"Production cuts which came on top of the OPEC plus supply curbs will cease at the end of this month as the medical coverage that means the cartels told supply reduction this month old almost eleven million barrels a day will taper gradually in the coming months it created a better atmosphere for mold pretty get a mold understanding here yeah hope and wish that everybody conduct themselves in a more appropriate to and most of the limited way I would say not appropriate but most committed way so it said its purpose that's good morning this we're gonna come out he's the chief economist at Abu Dhabi commercial bank got Monica would you say that enough has been done from OPEC plus at this point to put a firmer floor under these oil prices I think so or anything oil prices move above forty dollars a barrel of Brent crude it's both the supply side a document from hospital so by death but also the greater confidence on on Tremont as the company's stock create clothes and the other side of the company economic activity that still remains the number of questions how that goes full lips the buildup in momentum into models but I think a big part of of the communication from the Saudi oil minister it is that they want to make sure that all countries meet that quota production costs well other than the button being on site they radiate UAE and Kuwait okay good morning tea it's Manistee thing that Darren lies perhaps part of the carrot and stick I applied by society the UAE and Kuwait when they pulled back side he's going to pull back from the acts of violence three counts that they made in June so to a certain extent this is you know a carrot and stick they they had what one point two million barrels all of additional reduction in I put yeah and I think that really shows that the educational caught reading was was hit with the news by the main uses to help rebalance the market and again if we look at the message after the OPEC plus meeting one side of it is to to increase confidence in the oil market that Jackson's extend the the initial two month production caught by another month before tapering the overall production by the group but Wilson it's it's very much that all the producers boss how flight behind making that commitment need to get to that level and the the the longer that the G. C. C. countries could produce less than that committed amount will will will allow others to to not meet that commitment so it is very much balancing bringing confidence back into the oil market but making sure they don't carry a greater burden are they happy then money so you have this whole debate as to what extent the Saudi economy is getting affected by all these disruptions one important indicators of course the three month cyber war and also the I or the United Arab Emirates in terms of the helpful financial conditions of what is your analysis what we've been looking for it because he is the cricket team in the banking system if you remember the twenty fifteen to twenty sixteen I've heard the G. C. C. it's called fly again because of the low oil prices usually the quickest heating the banking sector dry out the company reporting requirements increase on this time around we haven't seen that happening making sure that the conflict between the banking sector would be one of the key pillars of the policy responses especially in the UAE patrol says in part the ingredients well you know because the liquidity measures to increase government deported sitting in the seat you eat that creep going eight coal over things and making sure that they are liquidity said bye to continue to end the real economy I'm trying to put the real economy hearing this kind of it nineteen crisis when I was not the time the cuts I mean that seems to be that the sentiment from around the world yet you look at the restructuring that sad Saudi Arabia implemented think one of my GA's yesterday said the site was essentially kitchen sinking everything that they really wanted to try and achieve under this umbrella how do you how do you analyze that kind of thinking well I believe he I mean you're looking at a space to fight they called me only one flight across the Arabian house because it makes sense the widening in the fiscal deficit so we've seen for the P. eighteen truckloads in on this week quite a help in increasing and you can't help but at the other hand you you have to balance it with providing essential support to the economy to try and limit the the extent of the ticket nineteen crisis and again going back to oil prices finding support for the oil price it's great to be central to Saudi Arabia for the hospital reduce the pace of of physical attraction for quiet at the time but that you know the government remains the key driver to mom couldn't they called me so you're you're walking in a very very close balancing act and I'm a big part of Dr Olson's bomb and making sure that there's ample liquidity in the banking system they increased injected the culprit did this man plan has that this is an area that looked very tense he asked what is going to run a number by you and in fact the Bloomberg survey suggests that for the budget balance in the twenty twenty one the forecast is for a deficit to the tune of about eight point three percent it does that add up with what you factor you we've been crunching what prompted a large deficit and we we expected to be in in the double digits we we expected to be around fifteen percent of GDP by our current estimate of course it is oil prices continue to gain momentum stocks will be critical but also one thing that will be very important if I how much is the government going to pull back spending even though they announced that the reforms inmate that we've discussed before a critical point that the finance minister has made is that actual government spending will be in line with with the budget it's about because you're going to see increased spending related to healthcare and and the support system so you know I I think that you know that that is still the law requirement for government spending awful console already implying a deeper cuts and then been mentioned by the finance minister says that holds I think he's very critical for the deficit but given level eleven and the outlook for oil this yeah I think it's double digit deficit looks likely in our view okay Monica I stern warning them on economic chief economist at Abu Dhabi commercial bank thank you for joining yes if and.
Oil futures point higher Sunday night after OPEC+ extends output cuts to July
"OPEC now the oil cartel held a meeting over the weekend the virtual meeting obviously we're decided to extend record cuts in oil production through July the idea of course being to keep oil prices up marketplace's Kimberly Adams reports the decision comes on the back of months of major volatility in the oil markets global demand for oil fell off a cliff as country after country locked down during the pandemic that's meant lower gas prices for consumers but a tough time for oil producers now that countries are starting to open up oil price trends are reflecting the change Robert Johnston is with the Eurasia group key parts of the world it's got it all traces back almost forty dollars a barrel and we had negative pricing for elite US will also come back a long ways so the question is ready go from here maybe not that far says Louise Dickson at restart energy she says oil's recovery will be slow and stunted by the sheer economic impact of countries and economies in GDP overall lower household spending left in this travel fewer people buying new vehicles and any recovery will also depend on what happens next with the
Florida Continues To See Big Jumps in Coronavirus Case Count
"All this week in Florida a needed increase in testing the state saw its biggest spike in cases it seems so far in Texas Houston is watch cases steadily increase as they started to reopen a month ago and in Pennsylvania health authorities there are worried that he recounted they're not just seeing an increase in cases in the midst of an outbreak OPEC agreeing to extend a production cut of nearly ten built million get barrels of oil a day through the end of July to try to raise
OPEC and allies to agree one-month extension to output cuts
"OPEC plus agreed to a one month extension of its record output cuts and adopted stronger methods to ensure members don't cheat and break their production pledges delegates telling Bloomberg all nations have agreed to the new one month
Oil Retreats From 3-Month High As OPEC+ Considers Extension
"You need time let's get to the oil story because it isn't retreating from a three month high and it cracks in the ranks of OPEC plus Saudi Arabia and Russia say they've lost patience with compliance like a such as Iraq threatening to walk away from a tentative deal to extend current outputs meanwhile other producers have stepped in with their own son in efforts the Norwegian energy minister told us exclusively that she plans to see her nation's cuts through we are making a substantial cut now when we come to December at the end of this year we will be producing three hundred thousand barrels less per day than what was initially and so at the moment I feel this is a odd contribution I think we're seeing already clear signs in the market that it's moving toward stabilization a little bit quicker than the worst fears so we will and regulation by the end of the year but at this time this is the crux of we are ready to to go through with so at the moment there's no talk of extending into twenty twenty one no we're not discussing that politically or in the department ministries at this time word right now the situation is that we will see these cuts through to the end of the year but then again we can enter the regulation quicker if we see that's possible but on the on set the plan is to keep these production cuts in place until the end of the year you said you see some signs of stabilization and we are seeing now the price of oil as well but we still have more than a billion barrels in terms of inventories how long do you think we will see like proper supply and demand stabilization in the market I think it's difficult to say and I'm sure there are oil and gas market the analysis that can probably answer that question a lot better than me but I think it's a good sign that we're now seeing the or press going little **** up I think some of the worst fears that we had just a month ago about seeing storage globally goal were to actually pass city is maybe something or not as worried about right now but like you point out there is still a huge surplus the demand is not back to where it was before but I think as more countries eventually start opening a little bit more up but we're seeing on some of the pandemic yeah receding in some countries across the world the hope is of course that people will start flying again are driving their cars at the economy will bounce back even though we know it's going to take awhile and this will of course also affect the demand side are in the oil market picture I know also starting to open up or Norway in general are you seeing more demand picked up within Norway what we are seeing like when when we leave yeah like our example that you can see just by moving around is that people are starting to fly again I think a lot of things have changed because of this pandemic I think just having digital meetings on on webcams Exeter is something that we're probably gonna keep doing more even though things come back to normal so I think it's too early to say now exactly how this will play out but we are seeing more people starting to move around but we still have a really high focus on keeping keeping the virus at bay so we still have many measures in place to ensure that we have good hygiene that we don't sit too close together to make sure it doesn't yes you back up because it is of course a major health issue that we take very seriously during the previous downturn in twenty fourteen pack had invited Norway to come to the meeting has done that this time around is this something that you'd be interested in doing well we were invited as a non observers on the meeting that they had before they came to the conclusion of cutting production we're not part of this cooperation we're not a part of OPEC I did not myself attended but we were represented on our on our official site here in the ministry of so it I mean we're not part of that that group of seventeen production cuts that we make will be based on independent decisions based on what is good for our economy and our resource
"opec" Discussed on Wall Street Breakfast
"No great surprise but jobs are going to be a major focus again next week after over. Six million jobless claims came in J. P. Morgan forecast another seven million. Unemployment claims will be coming down next week and some estimates even higher other economic reports of note include the Jolt Update and a check on consumer prices while the FOMC. We'll drop the minutes from it's latest meeting to the delight of fed-watchers in earnings news is a small group. But simply good foods reports on the sixth greenbrier Revlon Levi Strauss and Lindsey report on the seven price smart on the eighth and Delta Airlines shock medications and W forty report on April ninth in. Ipo News no hence company going public next week but IPO share lockups expire unbiased HP financial and Vir biotechnology analysts can also start covering Amara. The biotech stock closed at over fifteen dollars on Friday after the IPO. Was priced at sixty dollars per share in Emma News. The tender offer on the forty seven Gilead Sciences deal expires April. Sixth shareholders vote on the Annex. Ter- International West go international merger on April eighth and look for more indications that the CAESARS entertainment Eldorado resort steel and Delphi Technologies Warner combination. We'll make it to the finish line. Traffic at Costco stores has finally tailed off. Just a bit. Amid social distancing efforts the retailers report on March sales has the potential to be quite the head-turner as a reminder costco so US comparable sales soared twelve percent in February as the consumer stockpiling trend. I started to take off and the consensus mark for COSCO'S Q. Two comparable sales. Us candidate and international. Is that a healthy nine point. Three Percent Buckle Kato Price. Smart are also in line to issue monthly sales reports airline. Traffic reports will start arriving next week could include some color on the devastating impact of the pandemic unload factors earnings and the government aid late on Friday jet blue warned of a crash. Crunch Delta Airlines said it's burning through sixty million a day and United Airlines. Set the high water for distress by disclosing that. It's losing one hundred million a day. It's likely to be another week of volatile trading for airline carriers the car on April seven through the eighth has switched to an online format due to the pandemic the All star roster of speakers includes executives from mercedes-benz. Google iheartmedia Lincoln Ford an Intel. The expected timeline and uses for five G. Bay cellular connectivity into cars could be an interesting topic. The restaurant industry will be put to the test again next week. As operators continue to look for takeout and delivery work arounds to keep at least some revenue coming in analysts expected industry could look different on the other side of the pandemic..
"opec" Discussed on KOMO
"Perfect storm if you will on Wall Street got the continued worries over corona virus we also have two major OPEC nations Russia and Saudi Arabia refusing to lower production levels even though demand is down because of the corona virus and what's happening right now is we're seeing oil prices I think they take twenty percent today when you see something like that happen investors get nervous when investors get nervous they sell and it sold to the point that it triggered the first brief stop in trading in twenty years today more than twenty years so those were automatic brakes the kick in anytime there's a swing that gets up to be a little too high for the market's liking absolutely that's what happens what happens is when we drop below and we're talking about the S. and Peter not the Dow the S. and P. when it drops below seven percent one of those automatic tripwires is activated and trading will stop for fifteen minutes that's what happened right after the opening bell today no it had it dropped thirteen percent it would have tripped another one of those trip wires if you will and if it drops below twenty percent trading would have ended for the day now that didn't happen but the market's never really recovered much from that seven percent drop in fact they closed lower than that tomorrow are the experts predicting some bargain hunting that's always a possibility when we see the market forcing the markets closed you know this low but then again you don't know what's going to happen tomorrow if you have the stomach for campus over to either to buy the dip you know a lot of a lot of experts would probably say go for it but for the average investor it's probably time to to kind of hold on right now you know that's a good point holding on for right now and at some point lease the experts are saying with all this pent up demand that they're obviously going to be some institutional traders are going to have to get their money back into the market absolutely I mean it and and that's a lot of times you know when people do come back into the market they they do it when it's it's this lo and the bilo and the you know and they wait for high but then again most of us you know are not are not that kind of a savvy investor so if you have questions right now it may be the time to talk to a financial professional find out what your risk tolerances and make changes accordingly at that point A. B. C.'s Derry helping her time now to guess the como afternoon sound bite what I want but I just stop right now holy mackerel so be the first caller to identify who sent it in with a fifty dollar gift card to Daniel's broiler the official sponsor of happy hour with the finest appetizers and drink specials from four to six.
"opec" Discussed on WSJ What's News
"Opec has agreed to extend production cuts into the first quarter of twenty twenty the agreement comes after russia and saudi arabia announced over the weekend that they would maintain output put levels help support the oil market wall street journal's oliver griffin has more from vienna what we know now is a member nations wishing various countries like saudi arabia iraq and iran they have agreed to extend that the production of one point two million barrels a day so the next nine months which will take us into twenty twenty how is it will be otake plus meeting on choose day which will confirm whether or not allied nations which is led by russia biggest producer among series known member countries have also signed up to be agreement opec meeting him during heightened tensions in the middle east end among members of opec tensions in opaque come from regional issues between ties like the gulf states and iran 'em included in that is it raining concern russia which isn't amend the i'll be cartel has a bit too much influence on the group's decision making a blight 'em to that extent consensus of between member nations is also being touted fire on his refusal to endorse ater don't get time partnership between are packed handy russian lead on ice griffin says those tensions are influencing steps opec is taking down into places you're making specifically to ways how that might affect eight longer term deal with russia now obviously with russia being healthy lodge producer it is it's important to the group's naked on without i liked nation but while iran is not keen on the idea of russia having quite so much influence amongst those nations it was kind of joking act so members of that group to sort of show it won't be derailed by iran deciding not to get on board with that number ten partnership opec conclude this meeting in vienna on choose day again wall street journal oliver griffin on what we can expect we can sort of gas that russia will agree to a road i hope this nine months caught which will sort of corral v other allied nations into green to do so is well how is it the concern will be whether or not russia will later maybe cheat on her innate slightly on that and that will mean they do not comply with those cuts on produce more than they had said they would not say whether or not they maintain that agreement throughout the rest of the nine month period wall street journal is also reporting that opec is negotiating a long term deal to cooperate with russia for the latest details on this developing story please head to our website wsj j dot com now onto a ron which announced monday that it had breached the limits set by the twenty fifteen nuclear agreement on its enriched uranium stockpiles iran had earlier threatened to exceed the three hundred kilograms cap amid rising tensions with united states joining me now from brussels with more details is wall street journal reporter lawrence norman lawrence this also comes as the five five remaining countries in the nuclear pact that being france.
"opec" Discussed on World News Analysis
"That's where the majority of money's coming from his going to make a lot more very soon. He's already set up deals with Amazon Hulu to carry his videos, and the toy and clothing deal with WalMart. So what's this about and boxing toys that children find appealing to watch? It's something about that feeling. It's almost virtual reality. You're watching someone bucks this fresh package of brand new toys, and it's almost like you're they're experiencing yourself. My sons watch this. He's three. So this is a real phenomenon. I still don't really see the joy in it. But a lot of people especially children, really love it and YouTube is learned to monetize that. So I see similar like a YouTube video like people on boxing, iphone, new the latest iphone? Equity exciting fear is very much. So as well. Exactly. So the boys channel translate people buying the toys, he he reviews the tech site the verge that a report on him to long ago in as they put it it's subliminal advertising and its finest. Because what you've got is more and more YouTube stars driving retail by essentially running along advertisement. But in a completely different way, and that's evident from the partnerships with the walmarts and the who's of the world. And does the boy Ryan appreciate his fortune fame. He is a very good natured kid he is only seven. So at this point, he probably thinks his biggest guy on earth. Any kind of isn't as far as YouTube is concerned. But there's something little unsettling about the marketing of child when we're talking about in Sumer ISM. So every day, it's moved from let me on bucks. These toys to now is getting his haircut. He's brushing his teeth in his mama debtor, documenting this also putting that out on YouTube. So it's going to be a long along life living in the world of YouTube for for this little guy believe thanks. That's all the time. We have for decision today, a quick recap, China and Parma have agreed to further promote their relations U N chief says climate change is the most important issue where facing hot Harz was throwing from OPEC and Sri Lankan prime minister retro puncture Shaw caused four election to solve political instability into this episode again, we're catch up on previous episodes. You can download our podcast by searching full world news analysis program engineer of this episode. Yummy. Thanks for listening..
"opec" Discussed on World News Analysis
"Biggest exporter of liquefied natural gas, global financial analysts, Peter Dixon of the Comerzbank system. Hostas in doesn't have much effect on OPEC's influence over the oil market. You know, I don't think it makes a big difference certainly with regards to crude Qatar is very small player in this guy. I think we can only look at their decision to leave OPEC some full of symbolic gesture quite what the tell us this what entire show OPEC. Members are expected to cut oil supply at a meeting in Vienna minister of state of energy affairs. Asad I'll copy said caught har- would steal attend the groups meeting on Thursday and Friday, adding that a decision to exit OPEC was not political. I think Qatar has been on the great pressure from some of its neighbors in the Gulf for some time now. So it is slightly surprising. That is pulling out then claiming told a political issue. I it strikes me can only be that peck members Saudi Arabia and United Arab Emirates and the fellow Arab states, but rain and Egypt have imposed a political and economic boy cut on cut har- since June twenty seventeen the accused cut har- of supporting terrorism a charge denied by Doha. Now, we have Saad Joe what professor of the Lyndon school of. Economics and political science. I senior fellow with the Middle East center. So professor Joa. What do you think Qatar want to quit OPEC at at this moment because we heard cutters? Energy ministers. Say the move is not a political. They are just trying to focus more on natural gas. What you could say what you wants to say. But this this move is boxing, long political move goes. Chillers that. Cuts rooms to give an example, the other Gulf country that they are not going to stay and does this actions on on the Bill how about for a long time this move, by the way could be them. If they think again, he moved to of leaving open, then they could take another day remove of movie and even the cons of community constant. So I think it's the bullet could move and very dangerous indication to the unity of the country. Estimator oil exporter, which leaves the alliance. Isolating caught Har what might Saudi Arabia think about is. Are there any major geopolitical consequences where going to see? Well, I think Saudi Arabia is worried about this move because oh go up not that big member of the OPEC. I mean big export volume in this in this is Asian but denies ation. So, but it could leave to other countries using this is this of basin like Ron, and this could weak and even more of especially when they feel that the oh the decision is in decisions in OB of them Nate by those Abia by. Imbalance by the unite. Now, it's being argue the move by Katara doesn't have much effect on OPEC's influence, but still this country has been a member of OPEC for fifty seven years. So what could be the implication of this move on OPEC and also the general world oil market. As I said, it's not a general in his because the share cut that husband in this action plan is not that big. But as I said, it could lead to other countries to leave the Belgian this happened in two thousand eight degrees here. Left of denies Asian although came by to to all day should again. But it's good to something like that. And this good. I've been this could endanger the unity of the addition also that ten members producing countries have not I've done member of OPEC who are cooperating with up when they see such who maybe they decide not to anymore with any reduction of Oriel ex..
"opec" Discussed on SuperTalk WTN 99.7
"Got to release some more oil man because we got a game we got an economy going like gangbusters and then we got people making more money and you're taking you know the the not you specifically but the u and opec are causing the gas prices to go up and it's eating away everything that we've given them we've we've we've provided for them this wonderful tax cut and now they're having to use the tax cut the buy gas well before long trump understands this that starts to affect the economy i don't care how much you you got tact and then what does that do what if this happens before november we go into a flip in recession because the oil prices are so high trump can't let that happen and the the only thing at his disposal there couple of things is disposal we can open up more land to be drilled he's already doing that but that's gonna take years before they can get anything and actually be pumping oil out of it so that's a that's a long term thing the only shortterm thing he can do now is is dip into the strategic oil reserve the strategic petroleum reserve and let that out and then what you know it's supply and demand you flood the market with more were more oil to be refined in a more gasoline and the price comes down doesn't matter what the opec rusher doing he's trying to get them to cooperate and not have to do that but he'll do it because the last thing he needs right now is rusty is the have an economic slowdown right before november and say then the democrats would be saying what see those tax cuts they got us into a recession when it's the flip and speculators screw stuff and that's the way it happens all i mean we get we get rocking and rolling and naturally when you get into a konami where you're rocking and rolling the oil demand we expect prices of gas to go up but it's gotta be marketdriven it can't be because the speculators then jumping in there and driving up that much more then you start to have ill effects on the economy i don't know why people can't understand this there are ways to regulate this and this will be found out with j d rockefeller wanting monopolies in carnegie wanting monopolies of steel and cornelius vanderbilt wanted monopoly on the railroad you have regulations to keep the free market free and i think at some point you're going to have to address some of these speculators out there just my thought quick time out one eight hundred six one eight phil we'll be back in two on the next man to shoot trump's tariff talk continues all the latest.
"opec" Discussed on WAFS Biz 1190
"And the last few hours and it basically shows you that they have cut cut back and gdp goes of course kiko throw clients up what happens next exactly as we raced towards the june meeting for opec donald thanks a lot of discussion a lot of horse trading on a nail biting and sweating i think because this is not going to be an easy meeting the saudis and the russians have signaled the direction that they want to go in the devil is in the details is the cliche which is so true here because they're going to be asking themselves the questions you know do we get out of this plan to cut do we simply try to respect the targets that we've set which would mean bringing production back up to to a level that that opec said it was targeting but who puts that oil back on that's the really the question saudi arabia's spare capacity russia's got spare capacity but are the other opec members going to be content with allowing some of those big producers took pump more and that brings the price potentially down for everyone so a producer that can't pump more is going to be getting less money especially given the fact that they have rallied around in terms of compliance everybody's done the hard work and hard lifting and let's see where it goes he gets to turn on the top the most filipov anthony power there is an energy reporter joining us about myself just ahead it is one year since kaunda's neighbors imposed a boycott rich nation but often november seventeen no what are the qatari stocks go next this is good.
"opec" Discussed on Bloomberg Radio New York
"The last few hours and it basically shows you that they have cut back and gdp goes of course the key code for clients pull up what happens next exactly as we race towards the june meeting for opec nonopec a lot of discussion a lot of horse trading on a nail biting and sweating i think because this is not going to be an easy opec meeting the saudis and the russians have signaled the direction that they want to go in you know the devil is in the details is the quiz show which is so true here because they're going to be asking themselves the questions do we get out of this plan to cut do we simply try to respect the targets that we've set which would mean bringing production back up to to to a level that that opec said it was targeting but who puts that oil back on that's the really the question saudi arabia's got spare capacity russia's got spare capacity but are the other opec member is going to be content with allowing some of those big producers took pump more and that brings the price potentially down for everyone so a producer that can't pump more is going to be getting less money especially given the fact that they have rallied around in terms of compliance everybody's done the hard working hard lifting and let's see where it goes who gets to turn on the top of the most filipov today the power that is our an energy reporter joining us myself just ahead it is one year since contras neighbors imposed a boycott rich nation but often november seventeen what are the qatari stocks go as next this is bloomberg to be a successful entrepreneur the expertise of the best and most prosperous entrepreneurs is a big advantage in think bigger real estate developer michael sonnenfeldt reaches out to his network of entrepreneurs and.
"opec" Discussed on KSFO-AM
"Exactly and and because regulatory stuff that that kept popping up and and they would bring up new items all the time and that would slow down drilling but they came up with a lot of the especially with horizontal drilling over the years they they've made leaps and bounds in terms of progress and what they can get out of the ground and now you have the opec member nations really they've been on their knees so to speak for a while but they're trying to at this point i guess flex their muscle maybe not one last time but one of the last times because it won't be long the one thing that that opec well the one thing the media won't tell you and the opec member nations no this they start ramping down production they bring those prices up but at some point you're bringing those prices up because of what while because of because of less supply on the market what when that happens they may be getting more per barrel the question is are those nations also as productive in terms of the energy where is i guess that threshold and i can't tell you exactly but there is one so at some point they're going to ramp up production again because there is a demand for the one product that they provide to the world we provide i don't know how many products right they provide the opec member nations primarily have this one main product and so at some point they're going to when they hit that threshold they're going to ramp up production like they've always done the the difference with this is that in the past the opec member nations had threatened and or even promised to lower the supply to to slow the supply to the.
"opec" Discussed on KKOB 770 AM
"Exactly and and because regulatory stuff that that kept popping up and and they would bring up new items all the time and that would slow down drilling but they came up with a lot of the especially with horizontal drilling over the years they they've made leaps and bounds in terms of progress and what they can get out of the ground and now you have the opec member nations really they've been on their knees so to speak for a while but they're trying to at this point i guess flex their muscle maybe not one last time but one of the last times because it won't be long the one thing that that opec the well the one thing the media won't tell you and the opec member nations no this they start ramping down production they bring those prices up but at some point you're bringing those prices up because of what while because of because of less supply on the market what when that happens they may be getting more per barrel the question is are those nations also as productive in terms of the energy where is i guess that threshold and i can't tell you exactly but there is one so at some point they're going to ramp up production again because there is a demand for the one product that they provide to the world we provide i don't know how many products right they provide the opec member nations primarily have this one main product and so at some point they're going to when they hit that threshold they're going to ramp up production like they've always done the the difference with this is that in the past the opec member nations have threatened and or even promised to lower the supply to to slow the supply to the.
"opec" Discussed on WDRC
"Exactly yeah and and because regulatory stuff that that kept popping up and and they would bring up new items all the time and that would slow down drilling but they came up with a lot of the especially with horizontal drilling over the years they've made leaps and bounds in terms of progress and what they can get out of the ground and now you have the opec member nations really they've been on their knees so to speak for a while but they're trying to at this point i guess flex their muscle maybe not one last time but one of the last times because it won't be long the one thing that that opec the well the one thing the media won't tell you and the opec member nations no this they start ramping down production they bring those prices up but at some point you're bringing those prices up because of what while because of because of less supply on the market what when that happens they may be getting more per barrel the question is are those nations also as productive in terms of the energy where is i guess that threshold and i can't tell you exactly but there is one so at some point they're going to ramp up production again because there is a demand for the one product that they provide to the world we provide i don't know how many products right they provide the opec member nations primarily have this one main product and so at some point they're going to when they hit that threshold they're going to ramp up production like they've always done the the difference with this is that in the past the opec member nations have threatened and or even promised to lower the supply to to slow the supply to the.
"opec" Discussed on KVNT Valley News Talk
"And and because regulatory stuff that that kept popping up and and they would bring up new items all the time and that would slow down drilling but they came up with a lot of the specially with horizontal drilling over the years they've made leaps and bounds in terms of progress and what they can get out of the ground and now you have the opec member nations really they've been on their knees so to speak for a while but they're trying to at this point i guess flex their muscle maybe not one last time but one of the last times because it won't be long the one thing that that opec the well the one thing the media won't tell you and the opec member nations no this they start ramping down production they bring those prices up but at some point you're bringing those prices up because of what while because of because of less supply on the market what when that happens they may be getting more per barrel the question is are those nations also as productive in terms of the energy where is i guess that threshold and i can't tell you exactly but there is one so at some point they're going to ramp up production again because there is a demand for the one product that they provide to the world we provide i don't know how many products right they provide the opec member nations primarily have this one main product and so at some point they're going to when they hit that threshold they're going to ramp up production like they've always done the the difference with this is that in the past the opec member nations have threatened and or even promised to lower the supply to to slow the supply to the.
"opec" Discussed on KBNP AM 1410
"A tall man to it uh i think that you know where the denver for more more or less technical reasons and uh anything um you know we've economic per se um you know we still have a lot of distortion in the bond markets and um you know it's sending a signal that you know may not really be telling us what we've traditionally uh interpret it in the past this is an important point uh because a lot of people are saying look even as the us yield curve converts next year it launches certainly be a harbinger of a recession the way it has in the past and yet when i go back and i look at the meeting minutes from central reserve meetings back in two thousand six and two thousand and seven a lot of the fed officials at the time were saying the exact same thing yes we're seeing yield curve flattening yes we seeing in version but it means something different it is technical it was not does that give you pause or over there was no quantitative easing been going on background so um you know i'm not sure exactly what they were the shirley drawing on to suggest that an inverted yield curve would have sent the wrong signal in fact for us it was a it was a concern opec credit spreads widened to a point where they broke out in the third quarter of two thousand seven which to us with a signal this say we do need to reduce our risk when momentum finally broke down in january about way that was a a clear signal for us to say let's you don't watch the play out of this year put from the sidelines with respect to credit you.
"opec" Discussed on KTRH
"Fifteen and fourteen frankly we added about four million barrels a day just in the united states alone or the corey lava that came from texas driven bought texas so you told me and i say this with very broad through the chief offender was in terms of raising global crude oil supplies of production and take your prices it was us with that we had opec at our marcia gay at the time now this caused a lot of difficulty to texas companies and as well uh but opec has not yet figured out how to deal with texas in the united states when it comes to crude oil production well we've we've surpassed the the saudis as being the swing producer and moved into a position where the texas oil industry really i think what you're saying is controls the uh the the prices and the production on the world market opec you again is trying to figure out how to deal with those two way too long so it could finally put this production agreed within the place which then raised prices which meant we started to go back girl more wells produce more again wish to literally just back them into a corner and frankly i guarantee you they don't know what to do right now and that's that's a good problem for opec to have i believe we're just about out of time in the segment uh the car coming up in the next segment let's let's really get into the texas midyear the petro index and and what some of these numbers mean because frankly most of them are burgoyne right over my head but i believe you can explain them for even a guy like me can understand you're listening to in the oil pass monies out and bailey rydin solo today kamm down in rock poor checking on some stormdamage.
"opec" Discussed on WCTC
"The big test for us shale will you know can we actually in oh can we produce it if crude becomes a problem in old uh you know it can we produce what we need uh you know from shale and accelerated that that much uh you know that much more quickly and the reason we bring that up is because of the the whole thing with opec just in the last month were opec is you know what they're fighting out his you know opec says okay we're going to cut back but if they cut back they said the united states can almost immediately make that up and the fear that opec had opec now has is if they cut it if they cut what they do to any great extent they may lose that market share to the united states shale drillers and so can make you know get can they make it up if there is if we have a tanker problem for the next couple of weeks coming into the refineries will i guess you know we we shall see uh the other positive thing that you could look at is the the fact that after this weekend a gasoline usage and demand in the united s dates goes down because it's the end of the drop at the summer driving season yeah back to school end of this a driving season a and you'll see uh that that as that demand drops off but on unfortunately will likely see you know higher prices because of the shortage uh at least for the next couple of weeks to three weeks at the very least i think and then those those prices will start to as the supply chain gets back up to speed will start to go back to two norm let's go to jim in texarkana texas jim hi you're on red eye radio welcome to the show hi jim area on milena my actually little rock native already affect the i work out a dallas we have come to your work whereas it over 100 trucks we ever reach yuli tanker victims every day built up our truck parked trucks.