With more on this, im joined by nitesh shah. He joined by nitesh shah. Is head of notties. Thank yo being he is head of notties. Thank you for being with us, so, we are flirting with this 95 barrel level, production has been cut. That is why prices are going up. It is fair to say this is opec plus, russia and saudi arabias plans bearing fruit . Yes, so, To Peck Group and in particular russia and saudi arabia have been angling for tightening up the market to push prices to these levels, they have extended recently extended their supply cuts against market expectations, that is what drove it above 90 but we are close to 95 now, that a recent leg in movement in oil prices has been driven by the tight innocence the market n the us Storage Levels are going to record lows and in past months what we are finding, despite to peck saudi arabia, russia particular driving down production, us was making up for that, us production was rising, now that seems to have come to an end, us production is coming down, and Storage Levels are lower. Where does this end . Some Storage Levels are lower. Where does this end . Some analysts Storage Levels are lower. Where does this end . Some analysts are Storage Levels are lower. Where does this end . Some analysts are saying l this end . Some analysts are saying oil will almost certainly go above 100 a barrel again, that is a psychological barrier, jp morgan made a dramatic prediction it could go over 150, what are your thoughts . It go over 150, what are your thoughts . Go over 150, what are your thou~hts . , ~ ,. ,. , thoughts . It is likely that prices could spike thoughts . It is likely that prices could spike over thoughts . It is likely that prices could spike over 100 thoughts . It is likely that prices could spike over 100 a thoughts . It is likely that prices could spike over 100 a barrel, | thoughts . It is likely that prices i could spike over 100 a barrel, but will it stay there . I think with saudi arabia, with so much Spare Capacity it could loosen its production control, and offer a bit more to the market, because the last thing that saudi arabia, russia want to do is spiral the World Economy into a recession which will damage the demand in the first place, so, this 90 is roughly the sweet spot i think for both those countries are, especially for saudi arabia, because what it cares about is something called a fiscal break even. The kind of price that oil should be, for its government to be able to meet all of expenditures, autumn the social expenditures, autumn the social expenditures so keeping round that level is where they want to keep it. Briefly if you can, where does it leave us in the battle against inflation is oil is going up . So inflation is oil is going up . Sr inflation is oil is going up . 5r inflation has cooled for a while and was playing into the central bank play book but this threatens that once again, it depends on how they interpret it, will they see it a as transitory thing, a Small Movement and can ignore it or will they have to act on back of that . We think that Central Banks will keep Interest Rates at a higher level to mitigate some of the risk, we dont think it will increase Interest Rates that much more and we will try and communicate the fact there is Spare Capacity that could be used and bring prices a bit lower in due course. ~ and bring prices a bit lower in due course. ~ , and bring prices a bit lower in due course. , ~ i. ,. , and bring prices a bit lower in due course. ~ i. ,. , and bring prices a bit lower in due course. , ~. ,. ,. , course. Thank you for oining us and cominu course. Thank you for oining us and coming into course. Thank you for oining us and coming into the h course. Thank you for oining us and coming into the news course. Thank you forjoining us and coming into the news room. Course. Thank you forjoining us and coming into the news room. Thankl course. Thank you forjoining us and i coming into the news room. Thank you thank you very much. Now industrial action is gaining steam in the us. Autoworkers had an unlikely supporter yesterday when joe biden visited the picket line. Those strikes look set to expand on friday with at least one other sector preparing to walkout. 0ur north America Business correspondent, erin delmore is in new york. I understand the workers of las vegas collectively are talking about walking out, what impact will that have . , , walking out, what impact will that have . ,. , have . Right, we are focussed on the workers union. Have . Right, we are focussed on the workers union, at have . Right, we are focussed on the workers union, at the have . Right, we are focussed on the workers union, at the hotels have . Right, we are focussed on the workers union, at the hotels and workers union, at the hotels and casino, the ones who power the Tourism Industry which has lagged post pandemic, in overwhelming percentage, 95 of Union Workers who took part in the vote, voted to authorise a possible strike and the reason i say possible is because no walk out date is set. That is important to note here, because conditions and talks and negotiations aren ongoing, they are seeking hiring pay, better protection, includingjob protections in the event of another pandemic, they are seeking more onsite security for workers they are seeking lower work loads, less work for their housekeepers saying they have been stretched where the Labour Shortages post pandemic. So have been stretched where the Labour Shortages post pandemic. Shortages post pandemic. So talking about two strikes shortages post pandemic. So talking about two strikes that shortages post pandemic. So talking about two strikes that have shortages post pandemic. So talking about two strikes that have been about two strikes that have been ongoing, we have been following the auto workers strike, the Writers Strike has been commanding headline, what more can you tell us on them . It is really the moment for labour action here in the us, we did see certainly movement with the writers who have notched some major wins with studio executive, we are seeing higher pay, we are seeing better residual payments over successful Streaming Shows and more power over ai and the role in their future work which is a big unknowable. With united auto workers, the president is set to make an address tomorrow, where we expect him to say, whether talks are progressing or not he has said if they are not we could see more strikes. Thank you very much. Meta, the owner of facebook, instagram and whatsapp has been unveiling its plan to bring Artificial Intelligence into our daily routine. Chief executive Mark Zuckerberg also announced a team of ai chatbots, each with their own areas of expertise and distinct personalities. And its revealed a new product ray ban sunglasses with al built in that can film and upload videos and answer questions. 0ur correspondent in Silicon ValleyJames Clayton was at the launch event at meta h0. This is meta connect. Metas first in person event since the pandemic. Mark zuckerberg is just about to speak, and its his chance to breathe life into the metaverse, a concept that, quite frankly, feels like yesterdays news. How do we unify these experiences of the physical that we have with this vibrant Digital World to create something that is more coherent and just better than anything that we have today . The latest product that meta was showcasing was its new virtual and augmented reality headset, the quest 3. Its not released until next month, but they let me play around with it. The big difference between this and the quest 2 is that it has front facing camera. So i can actually see you right now. And that is going to make a difference in terms of how people play games and just kind of exist in virtual reality. And the one big thing i noticed playing this is that when youre in a mixed reality room, so you can see room, so you can see the walls around you, it actually makes you feel less sick. And that is a really, really serious problem that vr has had. Yeah, it gets a little. Are you okay, by the way . Im just going to take this one off because thats quite its quite disorienting. Welcome back to reality. Remember, Mark Zuckerbergs goal, his dream is that we all spend time in the metaverse, chatting with our friends, doing, quote unquote, anything that you can imagine. So perhaps this kind of technology will help with that. The problem that Mark Zuckerberg has is so far, meta reality labs, which creates vr, has already lost 21 billion just since the start of 2022. And the big question is, can vr headsets like this get more people into vr and playing games . Its going to be released in the next couple of weeks and well probably know by, say, christmas whether this is a hit or a flop. Stay in touch with the bbcbusiness team and me on social media. Im tadthnright. Lets return to the breaking news that the actor Sir Michael Gambon known to millions as Professor Dumbledore in the harry potter Film Franchise , and accomplished Shakespearean Actor has died. He was 82. At his bedside was his wife and much loved son fergus, they say he died peacefully in hospital after a bout of pneumonia. One of the greats, worked with all the greats. Lets talk to the playwright and screenwriter sir david hare. David, thank you for taking the time to talk to us, i am sorry for your loss, can you tell us a bit about your thoughts today about your friend michael. I your thoughts today about your friend michael. Your thoughts today about your friend michael. I think two things, one i dont friend michael. I think two things, one i dont know friend michael. I think two things, one i dont know anyone friend michael. I think two things, one i dont know anyone who friend michael. I think two things, i one i dont know anyone who doesnt think of him with love, he generated love around him because he was such a fabulously mischievous and unusual man with a great sense of humour and appeared not to take himself seriously and in that well known formula i think formula i think he said he took the work seriously but didnt take himself seriously. Because of that he spread fun round him and i suppose provided a role model for a whole generation of actors who admired him probably more than they admired more than any living stage actor. 50 than they admired more than any living stage actor. Than they admired more than any living stage actor. So many people round the world living stage actor. So many people round The World Today living stage actor. So many people round The World Today will living stage actor. So many people round The World Today will be round The World Today will be remembering him of course, as dumbledore, but there are many roles, i am looking at imbd, 172 entries for him, for you what was his best performances the strange performances his best performances the strange performances were his best performances the strange performances were great, his best performances the strange performances were great, he his best performances the strange i performances were great, he started out at lawrence 0livier� s National Theatre by daring to addition as 0thello Which was his most famous part, so that took a lot of cheek from the very beginning but with his relationship with Alan Ayckbourn developed him as an actor in the rep and as we say british theatre and global film, and as we say british theatre and globalfilm, are intimately linked. He worked for years for Alan Ayckbourn and he developed him, and his great Breakthrough Role was the Life Of Galileo which is one of greatest things i have seen in the theatre. A view from from bridge one 4 but arthur miller, who said that was one of greatest he had seen in the play. The most extraordinary thing was that i said you seem to shrink, michael, as the play went on and he said, yes, that is all i nigh i would come on as a big man and id would leave as a small man. And i said, how do you do that . And of course that is something only the great ones can do but he left the stage six inches shorter than when he arrived on it. How does anyone do that . I dont know, i am not sure he knew, the third great performance was fortunately in my play skiing light sky light where he played a entrepreneur who reunites with his old lover and he played that first of all in the theatre, then he played it in the west end and then he played it on broadway and he was immaculate in all three. Immaculate in all three. David, i read an interview immaculate in all three. David, i read an interview with immaculate in all three. David, i read an interview with him immaculate in all three. David, i read an interview with him a immaculate in all three. David, i. Read an interview with him a short time ago in which he say he was a doer, but at the same time he was a qualified tool maker, did he bring that kind of precision to the craft . Very practical, qualified tool maker, working on car, love working on gun, love working on engineering, loved actually being able to get things done, and these performances that he gave were immaculately constructed, without him ever necessarily talking to you about how he was doing it. When you directed him, you learned to respect his mystery, he would say that acting was not something that you could rationalise or talk ant, the final thing, the final effect of michaels presence in the theatre on screen was deeply mysterious and he himself loved that mystery, and respected that mystery, and if you like, allowed that mystery, but behind it was i iron discipline about technique. Was i iron discipline about technique was i iron discipline about techniaue. ,. , technique. There will be a few generations technique. There will be a few generations of technique. There will be a few generations of people technique. There will be a few generations of people who technique. There will be a few| generations of people who will technique. There will be a few generations of people who will only know him, or love him, not only, but it is dumbledore of course, the key role, was he taken aback by the level of fame that he achieved with that role . I level of fame that he achieved with that role . ~ ~. ,