Weekend in doha apotentials from the Worlds Biggest Oil producers are gathering for what some call one of the most important discussions in recent memory. The goal, to reach an agreement that would limit output. If that happens it would be the first step in carbon production that has resulted in a glut of oil worldwide. Has thrown companies into bankruptcy. As brian selvin reports, reaching a deal wont be easy. Reporter a global game of political intrigue with hundreds of billions in oil dollars on the line. Major oilproducing nations gathering in doha, qatar, sunday to try to win a deal to stabilize or possibly even cut global oil production. The world is Still Producing 1 Million Barrels per day more than it needs. Even with american output falling this year. Ful the countries attending the meeting face a catch22. They desperately need higher prices to fill their budget holes but they cannot risk slowing production because they need every dollar they can get. The biggest conflict com
Weekend in doha apotentials from the Worlds Biggest Oil producers are gathering for what some call one of the most important discussions in recent memory. The goal, to reach an agreement that would limit output. If that happens it would be the first step in carbon production that has resulted in a glut of oil worldwide. Has thrown companies into bankruptcy. As brian selvin reports, reaching a deal wont be easy. Reporter a global game of political intrigue with hundreds of billions in oil dollars on the line. Major oilproducing nations gathering in doha, qatar, sunday to try to win a deal to stabilize or possibly even cut global oil production. The world is Still Producing 1 Million Barrels per day more than it needs. Even with american output falling this year. Ful the countries attending the meeting face a catch22. They desperately need higher prices to fill their budget holes but they cannot risk slowing production because they need every dollar they can get. The biggest conflict com
Weekend in doha apotentials from the Worlds Biggest Oil producers are gathering for what some call one of the most important discussions in recent memory. The goal, to reach an agreement that would limit output. If that happens it would be the first step in carbon production that has resulted in a glut of oil worldwide. Has thrown companies into bankruptcy. As brian selvin reports, reaching a deal wont be easy. Reporter a global game of political intrigue with hundreds of billions in oil dollars on the line. Major oilproducing nations gathering in doha, qatar, sunday to try to win a deal to stabilize or possibly even cut global oil production. The world is Still Producing 1 Million Barrels per day more than it needs. Even with american output falling this year. Ful the countries attending the meeting face a catch22. They desperately need higher prices to fill their budget holes but they cannot risk slowing production because they need every dollar they can get. The biggest conflict com
Down 3 today. You got the stories about the bending iphones. Now problems with its latest operating system update. Just how much troubling news is this for the tech giant . First, though, check in with sue down at the New York Stock Exchange. Hi, sue. Hi, ty. It is an ugly day down here. The dow down triple digits. The fourth straight triple digit move and something the dow hasnt done since mid april. Giving up all of yesterdays gains. Here are the numbers. Dow down 242 points. The low of the day down 256. S p 500 off 28. Nasdaq off 79 points. Leading the decline in terms of percentage moves. Russell 2000 laid claim to that earlier and come off of the worst levels and down almost 16 and the transports down 112 points on the trading session. Where Interest Rates are right now, 10year note, the yield trading at 2. 522 . More on the trading action. Bob pisani is with me. Bob, we start with you. Were just off the lows of the day. I think two issues particularly gotten a lot of attention to
Volatile day yesterday on good volume. Energy retreating as opec cuts its demand forecast. Yum brands problems continue in china. Cutting their profit outlook for the second time this year. Costco out with earnings, beating estimates. Stocks up more than 20 this year. Looking to add to those gains today. Oil prices sliding again this morning, close to some new multiyear lows. Opec cutting its demand forecast to below 29 Million Barrels a day, more than a million less than the cartel is currently producing. Its actually a 12year low, guys, on demand. Goldman out today saying the tax cut that consumers are getting, not 75 billion like they thought. Now after that opec meeting, its going to be 125 billion. Well, look, its remarkable for 317 million americans. There are Many Companies that when we get to 50 then become different in that theyre not as positive because theres some companies that rely on fuel conservation as a major business. They will not you will not want to conserve fuel a