37 Burst results for "Opec"
Fresh update on "opec" discussed on Financial Issues with Dan Celia
"Best days are behind us. We have got to fight for this nation because I believe with all my heart destination is, in fact, more nation Welcome back financial issue. 6 10 363 11 10 6 10 363 11 San. If you want to call it, you're welcome to do it. Well, we've got a rag report coming up are very important AG report so we'll get we'll get to that. Let me just take a quick look and see what's happening in the markets. And again 69 363 11 Stain. If you want to get your call, you're welcome to do it. It looks like all the markets are up the down at one point time was up to other points and then as their climb to a new record high is Apple and Microsoft own pretty good right now, But the NASDAQ is sitting at 1% up. And the Dow now only up just about 1/2 of 1% and the SNP up At 1/2 of 1%. Savory good moves. Oil is down as we were just talking about oil. We're looking at oil down. Well, 15 cents worth $40.12 a barrel. In all likelihood, I wouldn't be surprised if that breaks this. $40. Carol. And by the looks of things Again. We've got some earnings reports coming out on big oil companies this week. We'll see what that does to oil, but it's more going to be the Inventory reports more than anything else when I'm reading Ah, ah little bit about in the joys that looks like demand is coming down. So we are in a matter of fact. This week traditionally This week is the biggest week. For vacations. This week, so you would I believe that you mean That this past weekend and next weekend, I'm gonna be too big traveling weekends. So the inventory Draw down on this week. We won't know until next Wednesday. Not this coming. But the following Wednesday, so we won't know what that looks like A CE faras inventories go. But this week we're going to look at where inventories were. Last week. To give us some indication as we head into this, but the point being is it does not look as though there's going to be a lot of travel this week. Now tonnage. Looks pretty decent. It seems to be holding its own as we look att tonnage on roadways across the country, so both shipping on roadways. And Rail seemed to be doing very good. Cargo shipments. Overseas. I seem to be down a bit so anyway, Avery very important draw down week on inventories. It's going to give us a good idea of where we are headed into. The following Months and as far as the oil prices go, and I would suspect that there's going to have to be And if oil prices get down below 40 again for an extended period of time, then we're going to have to see any of the existing small companies that have not shut in their wells yet. Probably do so. And some of the bigger companies that are engaged in the fracking side of the industry are going to shut down as well. I would suspect they've got to do something. If OPEC is increasing production two million barrels a day. Well, what's that got to do with us? Listen, oil is so much of the global A global Commodity. I'm not even sure why we talk about oil as Faras, Brent and West Texas Intermediate. There is a difference in price, but it is getting very close to parity here in and if they have OPEC Cuts that all raise brand prices up a little bit. And we are going to have to do some cuts here and in South America, Central America to see some some cuts and try to stabilize oil prices as close to the high thirties as we possibly can, But it's going to be hard to do if demand continues to diminish. Now we were opening schools here. Last I heard which Waas a couple weeks ago. Yesterday, I heard Now there were thinking that You're probably going to not do that. So you know again. Just think of what school buses alone. Used in diesel fuel. Our school buses here are all contract. We don't have too many more school district's last year, you'd still have their own bus buses. So we'll get, you know that's goingto diminished. Demand continued to diminish that demand further, so No, Look, I think I said. I said this many months ago that I'm watching oil closely, and I am I'm going to continue to do that. But the upside to that is That you remember. Gasoline is a retail commodity when we see retail prices and consumer price index is Oil are gasoline is a part of that. So you won't you? You know, we can probably imagine that August retail sales numbers are going to be down because gasoline consumption is going to be down. That's canon that retail sales number. It also means that we're going to see some deflationary. Situations and gasoline. And certainly Ah, that is going to be That's gonna have an impact. On inflation. Now, instead of me worried about inflation on the outside, we're going to be worried about deflation. And deflation is a bigger problem in my opinion than insulation, because deflation will make an economy that is not hurting, hurting. And then it reverses course, and deflation can not quickly but will turn into inflation. So No, it's not. It's not good, either. One of you is not good. That's why balance is so important. OK, here comes Craig Dagger with our AG report, and then we'll be right back. This's.
Fresh update on "opec" discussed on Houston's Morning News
"Well, hey there. Jimmy Snuka. Next future is starting to move higher the White House and congressional Democrats still far apart on a new Corona virus relief bill. One of the biggest sticking points involves extending supplemental unemployment insurance. The two sides plan to me today. Speaking off the White House, Microsoft is trying to buy the U. S operations of TIC Tac CEO Satya Nadella spoke to President Trump about how to secure the administration's blessing to purchase the popular Chinese music video up. The president had floated the idea of an outright ban on TIC Tac on national security grounds. Now, Bloomberg has learned. The White House has given the company's 45 days to hash out a deal the price of oil slipping below its right now at $40 a barrel. OPEC has begun supplying more crude to the global market. But that's coming at a time when Corona virus cases air starting to increase Such a man for oil is still depressed, and the owner of 7 11 is buying Marathon Petroleum Speedway gas station business for $21 billion. Marathon Petroleum also said the amount of crude that it will push through its system will be lower than its output in the second quarter..
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
OPEC, allied nations agree to extend cut of nearly 10 million barrels of oil a day through end of July to boost prices
"Enjoy the low gas prices while you can because they could be going up soon OPEC Russia and allied nations have agreed to extend the production cut of almost ten million barrels of oil a day through the end of July their goal to boost energy prices that have taken a hit during 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, allied nations agree to extend cut of nearly 10 million barrels of oil a day through end of July to boost prices
"OPEC and allied nations have agreed to extend a production cut of nearly ten million barrels of oil a day through the end of July they're hoping to boost energy prices the ministers of the cartel and other nations like Russia held a virtual meeting today the decision aimed at cutting excess production which has been depressing
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 drops on U.S. inventories and doubts over output cuts
"Oil prices drop down doubts on doubts of the ability of crude producers to agree to extend output cuts crude oil futures right now down forty four cents a barrel to thirty six eighty six OPEC oil producers could still hold a ministerial video conference this week Iraq and others which have not fully complied with existing oil supply cuts agreed to boost their
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
Oil prices fall on doubts over output cuts, surging U.S. diesel inventories
"Oil they're retreating from the three month high OPEC plus unity is being threatened by law already sealed over compliance when it comes to production cutbacks meantime US data is casting doubt on the strength of demand recovery as well let's bring in a J. T. D. energy services services director director John John Driskell Driskell joining joining us us with with more more John John thanks thanks for for joining joining us us you you know know the the stunning stunning rally rally seen seen in in crude crude for for Brent Brent basically basically we we touched touched briefly briefly about about forty Bucks and basically we come back from seventeen dollars just a month ago how far can we go in this group rally right now is a more upside thank I would prefer my optimism if you could surge to forty dollars but it was short lived and a lot of the momentum behind me was based on the signals we're receiving about the poem OPEC meeting which is supposed to be held on the ninth of June on the whole idea was what the deal would be one point seven million perilously close with each step further because if someone's exactly between the Saudis and the Russians quickly with extra mushrooms and in fact the wooden bowls the meeting criminals who made a lot of sense everybody to talk about it resolve it for you that way you could send a signal to customers who July here's what was beautiful and moving forward but several we have this a breath only yesterday that the also in the meeting was called off it's going to be postponed or rescheduled for later and so when the focus is on the so called lawyers the I could be wrong a link has extra money Julia wait I think what you have to do is to look at his murder trial collated and market demand hopefully recovers you can see how much more intense competition the crew members markets will be the lord Collins of the sponsors like major area all right group because of the length of the title what is the market need to hear from OPEC plus here sensually it isn't what the Saudis are proposing where we need to extend those curves up to three months or the Russians have a point here that you know as economies re open demand is picking up again maybe we just need to extend for one month all the employees of the service call center there are yeah and is returning we've been doing a lot of bottom fishing he's cool crisis caused by third base I stopped the Russian Urals we're sorry Colaco who took the controls and soon a surgeon physical the marvelous okay we can copy paper for he's still on the conservative side Merkel I'm still on the ground because through the end of the year so one of us needs to do which is the one more knowledge was terrible it fell apart Michelle back walks on the meeting it's gonna be a stronger sense of compromise with the realism that allows us to be school because for the nine point seven five scored five it'll be civil read more the latest things are opposites one month and that's underwhelming the same term it's understandable they need to crack down on the on the outliers who who are over producing you couldn't see three months of a local court you can only spend the visual agendas of the Russians get excited about blasphemous because the physical demands well don't get too excited don't cha think well let's suppose he cooled stainless phone for at least three months just chill size shale production is bad given that oil is about thirty a barrel and how will this play out in terms of supply and prices world world has gone coming off any we'll exporters immediately he prefers home girls with a cream cold credentials and others call on political I hope we can achieve a permission from the court last week that's because some people have been through a number of cities also cross off of almost two million also day and that's been strictly voluntary medicine driven by economics that yeah this is on the rise produces from even going well so there's some concerts since Christmas thirty five forty dollars this is going to provide a signal with some shale producers to relaunch could actually set headline says Sarah E. O. G. because we were sure sure Sir we have to restart from some of the help is if you look at the pretty close all the loopholes on the shelves BP's ensure ground he announced moments across multiple expenditures from hopefully some room because it's difficult to protect their digital mobility social okay transaction size for this in the case of chevron overlaying all star I mean those people experts also growing expenditure are not going to be fun to go through with this song keep expectancy continues to drop off in breast reduction reducing other non OPEC countries like Norway announcing massive cuts in this morning so it is fun to show producers I don't know if that's what they're going to switch back on the magically restore production I think going forward it to the end of the year because he got a little off before
Oil tops $40 on OPEC cuts and demand recovery
"Energy street shares in the state's track the price of crude oil higher WTI in New York was up four percent we settled thirty six eighty one there continues to be a fair amount of optimism that we're going to see an extension of those record production cuts on the part of OPEC plus right now W. T. I. thirty seven fifteen so we're up about that one percent in the electronic
Oil hits three-month high over hopes for output cuts
"Oil crude oil futures finished higher as OPEC plus moved to extend output cuts we get more now from bluemix Rudy de young OPEC and its allies edged closer to a consensus on next ending production cuts to prop up the oil market even as wrangling continued for a third day about whether to bring forward their next meeting crude oil also rebounded as the market for real barrels shows signs of strength futures settled at their highest since March sixth on Tuesday remedial Bloomberg daybreak
Oil prices rise ahead of OPEC+ meeting on output cuts
"Parsley energy is turning oil wells back on just weeks after shutting them off evidence of the shale industry's agility in responding to rising crude prices parsley is one of the first and biggest drillers in the Permian basin to announce a reversal of production
OPEC Chief Optimistic That the Worst of Oil Crisis is Over
"Up OPEC and its allies are rapidly cutting production and seeing signs that demand for crude is starting to recover OPEC secretary general Mohammad Barkindo told Bloomberg that he's hopeful the west of the old crisis is over but is he right we asked Coliseum standard chartered economist for me not tacky I'm Pakistan eleven of excess supply best oil markets hi speed in an eighth grade was indeed unprecedented we actually estimate that the average around twenty one point three million barrels per day and looking ahead we think that the oil supply drops will likely close by July so we're seeing positive signs that the Marlins would likely grow old and die reply from OPEC's stock would continue to fall especially with the addition and **** announced by Saudi the UAE the UAE and Kuwait are you certainly has accelerated this process but even when the snow on balance restored in July there are still several headwinds that are likely to be fractured week markets would still be faced by the head when the high inventor used hi OPEC's spare capacity and also the need to re incorporate non OPEC output output which has so far been temporary be sufficient so there is a risk that if prices value too far and too fast especially if we see WTI breaks thirteen dollars and a sustained minor this could cause the return of some U. S. wedding after a very short period of second and yet when we look at that car good morning to you when we look at the U. S. side of the scenario JP Morgan thought one and a half million barrels will come off the U. S. side by G. that's not actually taking effect the shop in effect is that and you've got conical continental in several taking seven hundred and fifty thousand files also is not the biggest tail risk is that shale reasserts itself more virulently perhaps in the market positions it's certainly part of the equation and it's certainly a risk especially if we need prices rise quite fast and you already have some reports that current prices are causing the return of some U. S. flags after only a very short period of second generation network considering but also the fact that we are dealing with an overhang and and the battery is under OPEC's spare capacity all of these three factors together might keep prices depressed for the rest of the
Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook
"OPEC plus is responding to the oil markets collapse with urgency never seen before data show the program of production cutbacks this month as well on the way to trimming nine point seven million barrels of daily crude output that's about ten percent of global supplies and that's just in the first two weeks of the agreement yet worries at the heart of the hurried for Saudi Arabia's sovereign wealth fund which is central to the kingdom's economic overhaul the crisis has even forced it to find new ways to unlock liquidity we're hearing it's planning to borrow about ten billion dollars by pledging stakes in softbank group's technology investment vehicle as
OPEC slashes oil demand forecast again, sees biggest hit this quarter
"You know what area of the market that we haven't talked about is frequently recently as oil because it stabilizes it recovered from that incredibly low level right now crude traded on the NYMEX trading at twenty five dollars and forty two cents but a real push pull here especially as OPEC releases a report that basically says that production can be cut even further to meet the curtail demand in a pandemic era Juliett Lea is been covering all things oil for us again writing incredible Bloomberg opinion columns as well on the oil market you can always catch them on Sundays Julian joins us now there is this push pull Julianne where you've got a bit of signs of recovery with some maybe some tentative signs of a drawdown in the Cushing storage fields with respects to inventories mean other side you have shale producers that are actually starting to bring wells back online where are we in the supply demand dynamic we're in a very delicate position at the moment you're absolutely right we all starting to see very tentative dare I say positive signs even in some of the particularly the U. S. state terror and and some of the the information we're getting out of China in terms of driving picking out the the weekly report from the A. L. A. the book was published about helping our goes die shows enough taking good moment but you know we have to put that in perspective the eight still below seventeen million barrels a day that's about where it walls twenty five years ago so we you know we no way near out of the woods that was it he said this the scoring Cushing stocks at Cushing there was also a very small role in nationwide commercial crude oil inventories but you have to balance that against the fact that there was almost two million barrels of crude putting to the strategic petroleum reserve and a loophole the the the the nationwide still holds all of crude oil and refined products went off again some Julian on the supply side of the equation several weeks ago we had OPEC obvious Saudi Arabia and Russia agreed to I I believe almost two million barrels per day cut in auction is there any signs that that is in fact holding yeah they're also in cities holding I mean we all starting to get into the first trickle of information we've had some students ten day production figures out of Russia which shows that it has gone a long way towards meeting what it promised to do in terms of output because we all seeing export levels from some of the big middle eastern countries falling quite significantly Saudi Arabia looks to be doing what he said it would do and I and yesterday went even further saying that it would cost an additional million barrels a day on top of what is already promised for June that would take its production down to little a little lesson seven the whole million barrels a day from you know twelve million barrels last month these are very big accounts and they all happening what's happening outside of the OPEC plus group please he's a little more difficult to see immediately we have seen some big holes in U. S. production but one thing the the I think analysts is struggling with if you read the company earnings reports it suggests that the production call by could alternately be as big as three million barrels a day if you look at the weekly production numbers with less than a call for backup of the moment and and then he said wait wait starting to see told because of some companies beginning to to raise output again as prices have crept up to about twenty five Bucks a barrel yes Julian just real quick here I'm struggling to understand the source of the uptick in demand that will bring it back to levels that we saw pre corona virus the shipping levels down with airplanes on expecting volumes to return for years where is the driver of consumption well the driver is the driver I will pay the city's you know eight eight gasoline demand that he's picking up most significantly well I don't think the the you know we we necessarily suggesting that demand is going to get back to pre fires levels you know anytime soon we all we all seeing really the photo shoots at the Monaco thirty these Damone problem private motorists people who perhaps all getting back to work but all roads leading public transport in order to get a job so we seeing more people using because we see even higher than normal levels of congestion on Chinese city streets we seeing signs of an increasing congestion elsewhere as well but it's still early days early days Julian Lee thank you so much for joining us Julian Lee is an oil strategist for Bloomberg news trainings on the phone from London like I just for me please I'm just you know that gasoline prices are down that's great but I just might not driving so I mean I can simply take advantage of that so began to see how that plays out over time as oil continues to trade at
"Give us a tough place. Steve Button scones always mixed dough for scones with a knife. Cutting through the door as you. Mix Don't handle mixture much on yourself. Lighthouse scorned one hundred four bottles street. Glasgow Yep I'll buy that for pint. Scones need an incredibly light touch when you're baking them so you don't need to slow the rise. Yikes nice loose texture like when we go if he should feel like. This is not dough this is just just crumb and then the old same on them. So the idea of using the night cut through the butter is a is a good one. Oh I would suggest that an uber type is something like you know. Chilling you butter and then greeting it. So he can loss Lopez. It can be incorporated into actually tips to guess too. Am I gonNA gain peace when making pastry others zipped been full of Santa Elena to each one kind of flow result? A lovely shot cost a new sticking to or ruling been Mississippi Ross Eighty Booth Gardens Breaks Glasgow guys. I think this is play all geared of Sam Lena. It's disgusting and a member a skilled in our slot onto a plastic chair or it makes me sick and race Pittman. We're talking dry SEMOLINA. Yeah I know but even the thought of one. It's my St- disgusting I have to. I'm with you on that. Kony for the desert. There's there's something unpleasant upright glue p Gillette Instincts. Flavourless has bought the idea of using SEMOLINA. The dry stuff as as as a as to meet the the mixture drier and stop sticking brilliant. Were making 'em pizza dough which we do quite often and we'll put either will use a dual soy flour. This goes from Lena. Finally died in the works often ruling. I because that we you get a really nice crisp crust and stops the second to the work surface so I. I really fed again again and again pastry when making pastry. Instead of using the usual wooden rolling pin fell a glass bottle was cold water. You'll improve the texture. Mrs Elizabeth Elton. Eight to two MINCY cumbernauld. Mike Law School again. Guys do that. Well I I'm convinced without one because this is America solution looking for problems is of worked backwards from the science. If you like because you you should be cold. That's why we must while it. Pastry chefs use marble countertops and stuff. So really the coal to the buttressed melting. So you've got the lovely texture but I don't think the to make that much. I mean the OPEC filled up with hot water and use that identity theft. It is true okay and I understand that but I wouldn't necessarily actively do I wouldn't think while Chai that with a might tied assembly. Nothing you know. I mean anything at yes quite often. I'm actually pretty good at banking. Make Banana often banana testing. Oh Yeah Paulie okay at me again. Banana cream a sliced banana to the white. Even egg and beat until Steph. The banana disappears unusual a delicious substitute for whipped cream Seven lung on state Scott's gloss go ahead and banana now honestly signs disgust banana. Yeah no unknown. No by not. I mean I've quietly try in fairness issue to suit as like. I suspect that would be G- awful. No no thank you. I think we've discussed this before. A COP tells episode and it just makes me unwell Har- but there is a really good recipe. Lot of especially parents will know for banana ice cream. Which is just freeze been on. His chopped up and then put them in a blender food processor. Anything type thing. I JUST THAT MAKES ICE CREAM. Really really nice and it is good. I've never tried to Huge on of banana things to be honest flavor for sweet flavor are. What's my favorite pit? No if it's a flavored thing what's the best to some form of forest so your answer is all the fruits Titan yet. No end it saw. I would have to say okay lest bought a blueberry Strawberry Cherry Raspberry Fi Solace Kiwi passion who faisal otherwise known as syphilis. I would say I have to say we. Just listen my. You probably definitely seen them. They're they're pretty little things and the tomatoes into fruits and without very dramatic can keep around qualitative. Things you get them along cheesecakes. Yeah but it's a really nice tart flavor. Did you call me? I was asking you? What your favorite flavor was talks news and I answer to this Kony. Your favorite flavor raspy Raspberry Steve. Vanilla Vanilla boarding. Can I tell you story of Vanilla? No my mother-in-law has left up to me so roughly stuff two years now. When was that because she saw hotel? You edit no as because of familial we wouldn a restaurant once Elias. The waitress hopefully by screen to you. Hav and she said clean an I asked what flavor is the plane ice cream now. My mother-in-law thinks this is the most ridiculous thing anybody who said. I think that's good question. I was reasonable question when I was a kid. There was ice cream place near where we live and I used to love their original d-r-y mich made no flavoring 'cause the also vanilla which was flavored with Vanilla. And I like it was just just screaming gorgeous and good so I think that's not necessarily a ridiculous.
Oil bounces back from its deepest lows
"To be an oil also saw another big rebound this past week after coming up from below zero in recent weeks a back up to around twenty four twenty five dollars a barrel of twenty five percent for the week give us reaction to a to that big news here yeah the biggest one week the order the oil has ever had and I think that it really tried that and and they're all important but freezing to drive that that we've seen the production cuts really kick in so okay cross cut over nine million barrels a day in production that helps US production is because I've been is not part of OPEC but it's it's part of camp explains in and and how much US producers have decided to take up front so there either show me some well standard or choking the volume of wells that are coming out so that supporters will probably take it four million barrels a day in production out of the U. S. so that combines to about you know call it twelve of thirteen million barrels of their production coming online at the same time incremental demand is picked up so we're using more gasoline United States is start to head in the driving seat and leave or not but the real demand is coming from China China is about ninety percent open in New York the largest consumer of all things commodities including energy products and then the third thing in Saudi Arabia he said it is not discounting the price that they were selling in the Asia Pacific in that is help too so you know three things conspiring to at least put some stability back on the energy markets and that certainly is up the psychology overall equity markets gas prices here in southern California starting level off now to eighty three the average price for regular up slightly on Friday following a twenty five percent pop in the price while this past week still a dollar thirty gallon below a year ago by
"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
"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 World News Analysis
"China's tencent music launches an initial public offering on the new York Stock Exchange valued at one point two billion US dollars in India. Three men are being held related to the murder of a police officer, you know, Shinya the convictions of some of us Rilya's most high profile criminals are endowed after a lawyer is set of work as a police informant. Staying the country to brother of cricket star loose man Kawada is in jail accused of framing man for offering a fake terrorism hitlist moving onto Africa British woman kidnapped by Somali pirates fast. She believes the men convicted in connection with the case is innocent photographer is a warded for her portrays of survivors of the one that genocide. Turning into east. They head of the CIA. We'll breathe congress on the murder of Saudi journalist Jamal kashogi. Gold coins believed to been hidden for about nine hundred years are found by archaeologists exploring the Israeli city of Syria looking to Europe, the French government will suspend a few tax increase that has led to weeks of violent yellow west of protests. Icelanders are calling on members of the parliament to resign after there were recorded mocking women colleagues and disabled activist looking to latch, America org. Why it rejects a request for asylum by payrolls, former president Alan Garcia Mexican president. Andre Auber door will launch a commission to investigate the twenty fourteen disappears of forty three students and finally North America. Investigators are looking at a potential connection between a body found near an Airbnb in Costa Rica, and the Florida woman who stayed there. Before disappearing last week geologists say they have discovered a massive unexplored cave of national significance in Canada. Thanks, real wise up today. Scoble survey cutters quitting the work in his ation petroleum. Exporting countries were OPEC in January announcing with raw from the cartel. Just days before the group's meeting in Vienna. The country has been a member of OPEC for fifty seven years. We've now focus on cemented his position as the world's.
"opec" Discussed on Quest Means Business
"High oil prices much longer. OPEC and OPEC nations are as usual, ripping off the rest of the world. And I don't like it. Nobody should like it. We defend many of these nations for nothing. And then they take advantage of us by giving us high oil prices not good. Okay. Knock good. But here's exactly who Trump is going after when he land base OPEC fifteen nations from the Middle East Africa and South America. It includes, of course, his friends, Saudi Arabia. And of course, some enemies like Venezuela and Iran combine. They control about forty percent of the world's oil production. Now, oil prices are rallying as energy market seemed to be blowing off the president. Brent crude is pushing up to a four year high. OPEC appears to be no rush to increase its output and give prices a break. Now, meantime, Donald Trump's decision to reimpose those sanctions on Iran certainly aren't helping. And our John defterios says in London, and you know, that's one of the contradictions here that many people point out to say, look, if Iran were allowed to come back into those oil markets as wasn't visioned when they had that. I deal with the European countries in the United States. Of course. Prices could be a little bit more depressed than they are right now. Indeed, Paul, this is a lot about politics, particularly geopolitics and Iran and President Trump keeps OPEC in his crosshairs and the key producers in the OPEC. Secretary general in a word are baffled. They said they would keep the market balance, but they think is Donald Trump driving up prices right now. There is in fact three key factors that are creating this perfect storm driving us to that for your high that you're talking about. Yes. The pressure on Iran, the US and say, had the snap back sanctions and said, they'll put them in place on Energie developer. Fourth have knocked out eight hundred thousand barrels of exports already. Number two Venezuela continues to collapse ten years ago that producing over three million barrels a day is September according to the Lotus, latest OPEC report. That's one point, two million barrels a day. And indeed President Trump has a point here, Russian Saudi Arabia, the two largest producers not OPEC non-opec agreement or holding back production right now. Because they don't see the demand, they promise in the second half of the year, they would add a million barrels a day. They're halfway there, but the Saudi oil minister hollow folly said, look until we get the orders from customers. We're not going to put more oil on the market. They think it's self inflicted by Donald Trump, putting the pressure on Iran and they're also watching Paula the, the tariffs against China. It's a big importer of crude. They see if China slows down those orders from Asia will slow down as well. So they're not eager to put the added oil onto the market to respond to the political pressure. And we have to not forget that he runs a member of OPEC's even though Saudi Arabia and Iran fight with each other over Yemen. For example, in that proxy war has to keep the the good ties within the OPEC apparatus that umbrella a working with non-opec producer Russia's. Well, not one thing because it serves both of their interest in both Saudi Arabia and Iran, John. We heard again, of course, from Honey who was talking again. About the US posture towards Iran, trying to point out some of the contradictions. I want you to listen now to him speaking to our own Christiane Amanpour. That's. When it comes to. Impressing their political wills that. They have been quite resolute for the hand making. I'm spent which consisted of them saying. Safeguard.
"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.