Its exactly a year since opec and russia first struck a deal to cut production. Brent crude has soared from 45 dollars a barrel in the summer to over 63. That deal is due to expire at the end of march. But there are signs of a split. Russia is happy with oil at 40 a barrel some of its oil bosses have been questioning why cuts should continue now prices have recovered. But the saudis need much higher prices to balance their economy they want oil at 60. Lets get more on this story. Herman wang, is opec specialist for s p global platts. Hes in vienna covering the meeting. Welcome to the programme. You expecting production cuts to continue beyond march . Thank you for having me. It looks like we are heading towards a nine month extension. As with a lot of these agreements, the devil will be in the details. We know that russia isnt quite as, or, a little less committed to having this production cuts locked in for another year. There are a lot of people that will be looking closely at this c
Mainland shares gaining access to the msci index sending the blue chip stocks to 1 1 2 year highs. The queen is due to open parliament in just over two hours. But uk government hanging in the balance as a deal between theresa mays conservatives and the Northern Irish dup remains in limbo were in complete unknown territory. Theyre trying to sew up the deal with a Smaller Party not telling us what that deal is that Smaller Party today, so they cant do the deal yet because the governing party is in chaos. Travel niis kalanick steps n as ceo of uber over a shareholder revolt its officially in bear market territory we had a rollover in one of the contracts from july to august yesterday. The Oil Prices Falling pretty modestly bearing in mind this has been a long pulldown from january where we were trading around about 55 bucks a barrel on the front month contract all the oil majors finding themselves under a significant amount of pressure in europe lets look at the u. S. Energy sector as wel