how high can it go. i think by and large most watchers believe that we are going to cross that $100 a barrel mark. it is significant when a mark that we haven t crossed since 2014. there are. there is a question as to why. match has to do with the pandemic and much as to do with the pandemic and much as to do with the tensions in the ukraine. i think we were already struggling with supply and demand during the pandemic, we saw there was a reduced amount at the height of the pandemic and then the economies roaring back of a huge amount of demand and they just weren t able to produce enough oilfast enough. and now just weren t able to produce enough oil fast enough. and now you just weren t able to produce enough oilfast enough. and now you have the tensions with ukraine. that said, opec which is the grouping of major oil producing nations have said that they are going to ramp up some of their production, they mention that in their last meeting in the month of march. they are going to gr
continue with the increase of 400,000 barrels a day month by month for the next certainly the year but with a very close watching brief on the market as with the oil prices certainly running too far ahead of that critical $80 a barrel mark. many are predicting oil prices will go up and up and you have goldman sachs saying by the end of the year we are looking at $90 a barrel, one organisation i spoke to last week energy aspects say over 100 next year is their projection as well. your thoughts? i is their projection as well. your thoughts? is their projection as well. your thoughts? i think it goes too far, your thoughts? i think it goes too far. i your thoughts? i think it goes too far, i think your thoughts? i think it goes too far, i think in your thoughts? i think it goes too far, i think in the - your thoughts? i think it goes too far, i think in the short . too far, i think in the short term the additional supply that opec will put onto the market, coupled with the rise in
dysfunction in iran and venezuela, i m asking that saudi arabia increase oil production maybe up to 2 million barrels to make up for the difference. prices too high. he has agreed. some say this move is part of a plan to try and isolate iran and place economic and political pressures on that country. the white house announced its zero sanctions against iranian oil importers, the associated press is reporting that saudi arabia has confirmed that the president and the king salman did talk about the oil market but they discussed quote, stability, the country did not mention that 2 million barrel mark that was set by the president. arthel: switching gears, fans of soccer sensation cristiano renaldo are heartbroken this afternoon as uruguay defeats portugal in round 16 of the world cup 2-1, the final. meanwhile, the french are moving on, advancing to the quarter
self-driving unit under alphabet, stole intellectual property information. we re talking about information tied to secret designs when he left to found a company called auto, which in turn was purchased by uber. these allegations were filed in a san francisco court alleging that he stole some 14,000 confidential files he took to an external server. uber takes the allegations seriously and will review the matter very carelly. elsewhere, keep an eye on oil prices today pairing back some of the gains we saw in the session yesterday. this is as information comes that the u.s. exported a record amount of crude oil last week topping that 1 million barrel mark for the second week in a row. it also comes as producers continue to ramp up to levels not seen since april 2016. this, of course, is offsetting some of the cuts we have seen from opec members. back to you for now. nancy hungerford live from london. thank you so much. still ahead, she advised president obama as part of the
you mention those numbers on wall street in correction territory. from late last year. more than 10%. yes, the markets in asia did crawl off their lows for the day. of at one point, japan was down 4%, which is a very, very big move for the nikkei. shanghai, nikkei in tokyo, all down by a long way from the start of this year. the zip, just to give you some sort of context down by 7.5% as well. it s been a tough start to the year. the plunging oil price, oil in asia continuing to fall. stabilize just in the last hour or so. around about the $30 barrel mark. and also what s going on in the chinese economy, how week sit. and what does that mean for the