the price of oil on international markets is not high enough for them. oil and energy leaders are gathering again today in vienna for the latest opec summit. the biggest and most powerful player saudi arabia started this week with the news it s extending its voluntary output cut of1 million barrels per day to august. russia is making a similar move. but these cuts are failing to boost energy prices. why? jonathan robinsonjoins me now to explain he is global power & energy research director at frost and sullivan. just talk us through our oil is at the moment. just talk us through our oil is at the moment. oil, despite the cuts in production, at the moment. oil, despite the cuts in production, oil at the moment. oil, despite the cuts in production, oil prices- cuts in production, oil prices have stayed relatively low in what we have seen historically in the past year, 1.5 years. there are a few specific reasons for that. chinese demand, industrial out would, increasing
european central bank. live now to gervais williams, head of equities at premier miton. ?is ? is it ?hna ? is it as simple as that? it is in a way- ? is it as simple as that? it is in a way. we ve - ? is it as simple as that? it is in a way. we ve seen - is in a way. we ve seen inflation in the uk has been more sticky than any of the other international economies so what has happened is that uk interest rates continue to rise possibly in an exhilarating rate whereas others are needed to hold back in terms of interest rate rises and actually may be peaking at this time. pt. actually may be peaking at this time. , ., ., , actually may be peaking at this time. ., ., ,~ time. a bit of a recovery. we were at a time. a bit of a recovery. we were at a record time. a bit of a recovery. we were at a record bow- time. a bit of a recovery. we | were at a record bow recently against the us dollar, following following the mini budget. following following the mini buduet. . , following fol