nuclear talks which could add another ten barrels or so, there have been very positive noises from vienna of late to do with that. yes, there are some surprises, result that could come in, at this point it looks kind, the market trajectory, we are in a very high backward station, the price for a boil a day is higher than a barrel in a months time. always a sign of a tight market. months time. always a sign of a tight market- tight market. talk to us through tight market. talk to us through how tight market. talk to us through how things - tight market. talk to us through how things are | tight market. talk to us - through how things are within opec, through how things are within 0pec, and there are other oil producing friends, 0pec plus as they are known. is there dissension in the ranks, there is always a problem with compliance of they go ahead with new ideas on production levels. , ., ., levels. this time around the dissension levels. this time around the dissension is l
between all the members of 0pec plus weather slowly, gradually, making, bringing back supply cutback during the pandemic what many people were hoping work given where we are at this time, 0pec plus may pump out more oil than what they do every month. it is looking likely they will go with that decision and mayjust stick with 400,000 barrels of oil right now. with 400,000 barrels of oil right nova with 400,000 barrels of oil right now. clearly, everyone keein: right now. clearly, everyone keeping a right now. clearly, everyone keeping a close right now. clearly, everyone keeping a close eye - right now. clearly, everyone keeping a close eye on - right now. clearly, everyone i keeping a close eye on events in ukraine, sparking nervousness on all sorts of markets, including quite clearly oil and other commodities. i wonder whether any action is enough to help ease that because we already know that europe is already in the midst of an energy crisis even before the ukraine crisis. the
flights airspace to all russians flights and adding additional squeeze on the economy. applause. lots of implications and we will assess what it could all mean for the global economy. picking up on the oil price, once again expecting more announcements about releasing more global stockpiles to help ease the rising oil prices. the latest from dubai from our correspondent. good to see you. talk to me about the implications because we saw that oil is now up to $110 for brent crude. all eyes will be on 0pec class, to see whether they can pump mortar easily rises? . , they can pump mortar easily rises? ., , ~ , , rises? that is right. all eyes will be on rises? that is right. all eyes will be on opec rises? that is right. all eyes will be on opec plus - rises? that is right. all eyes will be on opec plus but - rises? that is right. all eyes will be on opec plus but if. will be on 0pec plus but if people are looking for any surprises, that is not happening because it is evident at thi
indeed. , contributes to high costs, indeed. , ., contributes to high costs, indeed. , ., ., indeed. let s look at what happened indeed. let s look at what happened in indeed. let s look at what happened in the - indeed. let s look at what happened in the last - indeed. let s look at what. happened in the last 24-hour indeed. let s look at what - happened in the last 24-hour as happened in the last 24 hour as many traders struggling to sell russian oil and gas. given what we have seen as far as sanctions are concerned. what impact does that have on the overall market? impact does that have on the overall market? that ust means su - -l overall market? that ust means su -l in overall market? that ust means supply in the h overall market? that ust means supply in the short overall market? thatjust means supply in the short term - overall market? thatjust means supply in the short term will- supply in the short term will be tightening as we need to be looking for alternativ
influenced about what is happening between russia and ukraine but they will look if there is a supply side issue. if you look at all the comments coming out of members who are members of 0pec plus, whether saudi arabia or uae and other key members they have indicated there is no need at this stage to pump out more oil because there is enough supply in the market and the reason why prices have gone up in the last few weeks is because of the geopolitical tension. there are concerns that russia, the third largest producer of oil in the world, whether it will be able to keep up with supplies with the sanctions being imposed by western countries but so far the western countries have resisted from imposing any sanctions on the russian oil and gas industry. so we believe is that russian oils on the market, we are pumping enough oil and there is enough supply not to forget there is a wildcard in the pack, if a iranian deal does go through in the next few weeks, they will