want to show you how the markets fared overnight. as you can see here on our screens the dow and the s&p 500 closing higher. that is in part to the energy sector index which surged after opec plus s announcement. inflation concerns have been tempered by expectations that the us central bank could soon end its monetary tightening campaign. and oil output cut will mean higher prices and we could see that starting from next month. my that starting from next month. my colleague has more.- my colleague has more. many anal sts my colleague has more. many analysts believe my colleague has more. many analysts believe that - my colleague has more. many analysts believe that the - analysts believe that the coalition of oil producing nations really want to keep the price of oil above $80 a barrel, even hovering around $90 a barrel. a higher price of oil has wide ranging implications. it will make producing goods more expensive for companies and if prices stay high for a while it will
you how the markets fed overnight. as you can see on the screens, the dowjones and s&p 500 closed higher thanks to the energy sector index which surged after the announcement. inflation concerns have been tempered by expectations the us central bank could end its monetary tightening campaign. still, an oil output cut will mean higher prices. my colleague has more. many analysts colleague has more. many analysts believe colleague has more. many analysts believe that - colleague has more. many analysts believe that they | colleague has more. many - analysts believe that they want to keep the price above $80 a barrel, even hovering around $90 a barrel. a higher price of oil has wide ranging implications. it will make producing goods more expensive for companies and if prices stay high for a while it will have an impact on the price of gasoline, and as many countries around the world are fighting high inflation, this move but opec could make this more difficult and the white
us and eu officials are meeting today to discuss energy cooperation. the focus? according to the us, joint efforts to blunt russia s attempts to weaponize energy, bolstering energy supplies for the coming winters. this comes as eu member states consider extending restrictions, or even outright banning, russian natural gas imports. the bloc has also imposed a $60 a barrel cap on purchases of russian crude oil, something that the us has supported. joining me now is olga khakova, deputy director for european energy security at the atlantic council s global energy center. on the committee that looked into their trade relationships. has russia been able to weather the international sanctions issued against its energy exports? i think overall, the price caps have been a win, a lot of analysts actually were hesitant to implement or support but anything and the overall goal was achieved. key pressure on energy supplies on the market while minimising how much money russia is making
fell overnight in the united states. you can see the dow and the s&p 500 closing a little higher. in part thanks to the energy sector index which search. production will be cut by i% globally next month when my colleague has more. by 1% globally next month when my colleague has more.- my colleague has more. many anal sts my colleague has more. many analysts believe my colleague has more. many analysts believe that - my colleague has more. many analysts believe that the - my colleague has more. many analysts believe that the cars | analysts believe that the cars coalition really want to keep the price of oil above 8 cents a barrel hovering around 90 cents per barrel. the price of oil has wide ranging imprecations. it would make producing goods more expensive for companies and if priors to stay higherfor a while it would have an impact on the price of gasoline and as many countries are around the world fight inflation, this move by 0pec could make the back for more difficult
has been pushing opec for more production, even making a trip to saudi arabia. washing did not take the news of the cut well, with the head of the security council calling it inadvisable. presidentjoe biden has been pushing for low gas prices to ease the cost of living burden on american pocketbooks. living burden on american pocketbooks. samir hussein reporting pocketbooks. samir hussein reporting for pocketbooks. samir hussein reporting for us. pocketbooks. samir hussein reporting for us. i pocketbooks. samir hussein reporting for us. i want - pocketbooks. samir hussein reporting for us. i want to i reporting for us. i want to turn your attention to australia because later today the central bank will make its latest decision on the cost of borrowing. the reserve bank of australia has hiked rates ten times in a row to stem sky high inflation in the country. earlier, i spoke with a man who told me what he expected from the rba today. the rba today. well, we think the rba today