Starts to kick in many key countries around the world the demand for oil is increasing but at what pace . Thats the 0pec'>Question 0pec will be trying to answer as leaders meet today virtually to talk about Oil Supply and production quotas. Also on their minds is a possible increase in iranian supply. In april it was decided to return two point One Million barrels per day of supply to the market from may to july, as it anticipated global demand would rise despite surging coronavirus cases in india. So whats next . Lets go live to dubai and talk to our middle East Business Correspondent sameer hashmi. Good to see you. What are we likely to see happen today . Most likely the consensus is that 0pec will stick to the plan they announced at The End of april, that between may and july they would increase 2. 1 million barrels of oil per day and they will stick to that plan and not take any decisions beyond that. There are multiple factors. If you look at the prices, they indicate demand is picking up, despite rising cases in india and with Vaccination Rates going up in europe, north america, the Vaccination Rates have been high especially in the us, that has given confidence that demand is bouncing back. A lot of reports have come out including from opec that indicate demand is going to bounce back and get stronger. As we head towards The End of the year. Talking about iran, if they are able to strike a deal with the European Powers and the united states, they would be included in 0pec and their supply could also be included. What is expected is evenif included. What is expected is even if they reach a deal in the next couple of months, iran would be able to add somewhere around 1. 5 million barrels per day and it will take some time to ramp up exports. 0pec were not too worried about that prospect at this point and they think they can go ahead. A decision beyond july, we dont expect to hear much. 15 expect to hear much. Is short Term Focus for now and they have really very much taken that step since we saw the rise of Coronavirus In March Of Last Year and the demand for oil absolutely plummet. Demand for oil absolutely plummet demand for oil absolutely plummet. Last year was a seismic plummet. Last year was a seismic shift plummet. Last year was a seismic shift for plummet. Last year was a seismic shift for the plummet. Last year was a seismic shift for the oil i seismic shift for the Oil Industry in terms of the coronavirus. It hampered demand and was the worst crisis for the Oil Industry. They had to slash 9. 7 million barrels per day, 10 of daily Oil Supply, which was huge. Since then they have come back to about 30 to 35 , restore the supply, but even now with these new production increases announced between may and july we are still looking at somewhere around 50 to 55 of the Oil Supply not restored. Saudi arabia and russia, the leaders of 0pec , they dont want to step ahead in terms of increasing production because if that could upset the Demand Supply Scenario then again they could be looking at oil prices dipping, which they dont want at this point. The other thing to keep in mind is that 0pec is ina to keep in mind is that 0pec is in a very good position because not only is demand picking up, you also have the Shale Gas Industry facing its own pressures. Their investors are demanding more money, return on investments, so we will not see a huge increase as far as the Shale Gas Industry goes. Also the 0pec'>None 0pec nations are facing own pressures and will not see increase in supply from their end. If you talk about what has happened with shall recently and that will open a whole pandoras box, we could see many more lawsuits and a lot of non public State Owned Companies may not press the accelerator as far as ramping up accelerator as far as ramping up production. Companies like Shell And Exxon may not want to go ahead and increase production which gives a huge advantage to the State Owned Companies. Advantage to the State Owned Companies advantage to the state owned com anies. ,. , ~ companies. Sameer hashmi, thank ou ve companies. Sameer hashmi, thank you very much after growing at the fastest pace in the world for several years, Indias Economy shrank by more than 7 in the last fiscal year. It saw a growth of 1. 6 in the quarter to march 2021, but that was before its second wave of infections which is taking a heavy toll on its once growing Middle Class. Nikhil inamdarfiles this report. Finishing up the last orders before he draws the shutters on a steel ring workshop. Mumbai, The City that gave Mohmad Harlem his fortune, is also The City that snatched it away from him his once flourishing business ravaged by the pandemic. After seven years, hes had no choice but to head back to The Village. Translation there are no orders coming in. My six employees went back to The Village after the lockdown was announced. People who owe me Money Havent been able to pay me back, and so i may even have to sell my machines to pay off my own debts. In The Village, his dream home, only half built he has no money left to complete it. Mohammad will now take up Manual Labour to support his large family. The pandemic has pushed a third of indias middle Class Population about 32 Million people, according to Pew Research back into poverty, setting back at least half a decade of economic gains. Many are dipping into their precious savings to stay afloat, while others have entered into a spiral of debt. Many families had to resort to liquidating to make up the temporary income shortfall. This is very unfortunate, | of course, because it has left their families vulnerable for future crises. A shrinking Middle Class thats badly cash strapped isnt good news for business. Gunish manages this mobile shop. Besides intermittent lockdowns, hes dealing with another challenge an increasingly thrifty. Translation business is down 8096. People are pushing off purchases. And when theyre buying its the cheaper gadgets. We are selling very few high end phones. None of this bodes well for an economic revival in asias third largest economy, where 60 of gdp is dependent on consumption. Without government support, that fragile engine of growth is very much under threat. Nikhil inamdar, bbc news, miraj, india. A current deal to improve safety at Clothing Factories in bangladesh has been extended by three months. The accord on Fire And Building safety in bangladesh was set to expire on monday. But key unions have pulled out of the Replacement Deal because they claim clothing brands have demands that would make factories in bangladesh less safe for workers and individual brands less accountable. Its been nearly eight years since the collapse of the Rana Plaza Building in which more than 1,100 garment workers died. Nina Van Volkinburg is lecturer in marketing at the Fashion Business School, London College of fashion. Great to have you on the programme. First of all, what was the Bangladesh Record set in place to do . Was the Bangladesh Record set in place to do . In place to do . Accord. Ultimately in place to do . Accord. Ultimately the in place to do . Accord. | ultimately the bangladesh accord was to set up to ensure another Rana Plaza Disaster doesnt happen. As you said, 1100 garment workers lost their lives so its really about putting safety of garment workers first and the Binding Portion of the accord, it is obliged retailers such as marks spencer, primerica, tesco, to pay for repairs and supplier factories and bans them from working in these factories until they are deemed safe by accordance lectures. It acknowledged the accountability of retailers and notjust focused on Volunteering Measures voluntary measures. So the accord did work, old brands and retailers account. Absolutely. 0ver Brands and retailers account. Absolutely. Over the last eight years it carried out about 38,000 inspections, worked with over 1500 factories, and 90 of the safety issues found on initial inspection was actually reported as corrected so it made an influence to garment worker safety. Worker safety. What is the issue with worker safety. What is the issue with this worker safety. What is the issue with this new worker safety. What is the issue with this new deal, i worker safety. What is the I Issue with this new deal, why can they not agree . Negotiations on the agreement have stalled because of the pandemic through the year but global Labour Unions have said they will pull out at the Court Organisation running the accord if retailers do not commit to act legally Binding Portion of the agreement. Without this legally binding acknowledgement, brands do not have to commit to repairs, etc. But there is hope brands such as asos, g star, they have publicly committed to signing an extension. An extension. That is critical that that an extension. That is critical that that has an extension. That is critical that that has to an extension. That is critical that that has to take an extension. That is critical that that has to take Place L that that has to take place because if it is not agreed and watertight legally then once again the Factory Workers could be at risk. Again the Factory Workers could be at risk be at risk. Absolutely. I mean, actions speak be at risk. Absolutely. I mean, actions speak much be at risk. Absolutely. I mean, actions speak much louder be at risk. Absolutely. I mean, | actions speak much louder than words and without an agreement thatis words and without an agreement that is legally binding, unresolved Safety Hazards will get worse, not better. This will lead voluntary initiatives replacing the Accord Safety guidelines and that has not been seen to work in the past. There will be a hindrance for the accord to expand to other garment producing countries such as pakistan, and at The End of the day it is very much putting their lives at risk of garment workers and self at brands to continue messaging about sustainable practice, that will read quite foul and risk of green washing. For now, thank you. Risk of green washing. For now, thank you, Nina Risk of green washing. For now, thank you, Nina Van Risk of green washing. For now, | thank you, nina Van Volkinburg, from the Fashion Business School in london. Now to china where there has been a major Policy Shift when it comes to the size of families. Married couples are now allowed to have up to three children, from the current limit of two. Thats after the latest census showed a steep decline in Birth Rates. Lets bring in Mariko 0i whos been looking at the economic impact of this. And also is well aware of managing three little ones, as am i. It is a busyjob. Managing three little ones, as am i. It is a busy job. Am i. It is a busy ob. Indeed. When am i. It is a busy ob. Indeed. When You H am i. It is a busy ob. Indeed. When you ask am i. It is a busyjob. Indeed. When you ask the am i. It is a busyjob. Indeed. When you ask the chinese when you ask the chinese government it needs is population to keep growing to make sure it has enough future workers who will also pay taxes in order for the economy to continue growing and that is why that steep decline in Birth Rates has been worrying the authorities. But when ditched the one Child Policy in 2016 it only pushed up the Birth Rate in the following year, and the impact somewhat faded after that because, just like everywhere else in the world, some families are choosing not to have more children not because of the policy but because of the policy but because it has become too expensive to have them, from housing to education, and having three kids is even more expensive because you maybe have to buy cars, bigger houses and so on. Maybe only wealthier families would consider that option. Some also complain about the lack of childcare which needs to be addressed, as well. Interestingly, one economist i spoke to this morning told me that discrimination in hiring to younger women need to be addressed because so far china has had one of the highest female Labour Force Participation rates in the world that has been the Flip Side of that one Child Policy, but if more women choose to quit work and become housewives and look after their children because of course the majority of housework still falls on many women in this part of the world, it is not exactly a good outcome economically. For now, thank you. Outcome economically. For now, thank you. Good outcome economically. For now, thank you, good to outcome economically. For now, thank you, good to see outcome economically. For now, thank you, good to see you, thank you, good to see you, Mariko 0i in singapore. Lets get some of the days other news. South korea just out with some very healthy Trade Numbers for may. Exports rose 45 from a year ago its steepest growth in 32 Years Semiconductor exports are a big driver of that, as are exports to china. Imports, though, rose a little less than estimates, possibly indicating a slower recovery in consumption at home. Australias Nine Entertainment is the latest Media Company to sign deals with Facebook And Google to provide news. According to local media, the agreement with google is worth about 115 Million a year, while facebook� s is about half that. The World Trade Organization has again failed to agree to suspend Patent Protection rules for covid vaccines, despite the us and many developing countries arguing in favour of the change. Stay with us on bbc news, still to come. A revolution in the Book Trade you read it here first authors will start to receive royalties from the sale of used books. The queen and her husband began their royal progress to westminster. The moment of crowning, in accordance with the order of service, by a signal given the great guns of the tower. Tributes have been paid around the world to muhammad ali, whos died at the age of 74. Outspoken but rarely outfought, ali transcended the sport of boxing, of which he was three times world champion. He was a good fighter, he fought all the way to The End, even through his illness. Yes, he did. Uefa imposes an indefinite ban on English Clubs playing in europe. Today is the 20th Anniversary of the release of The Beatles lp sgt peppers lonely Hearts Club Band a record described as the album of the century. This is bbc news, the latest headlines. Japanese Tennis Player Naomi 0saka has withdrawn from the French Open following her decision to boycott Post Match Media Duties at roland garros. Just five months old and making history one of the first children to receive ground breaking Gene Therapy on the nhs in england. A dedicated terminal for passengers arriving in the uk from countries with a high risk of covid has opened at heathrow airport. Travellers arriving on direct flights from Red List nations will now transit through terminal 3. Heathrow said its top priority was protecting the public and helping reduce the risk of new variants. There are 43 countries on the Red List but direct flights are permitted from only a few of them, including india. Joining me now isjustin urquhart stewart, co Founder Ambassador of 7 investment management. Lovely investment management. To see you. This lovely investment manauement. To see ou. � , heathrow lovely to see you. As you. Heathrow changing lovely to see you. As you. Heathrow changing how i lovely to see you. As you. Heathrow changing how it | heathrow changing how it operates to keep us safe but so many questions still about travel and some are and what we can and cannot do. Can and cannot do. Basically what it is can and cannot do. Basically what it is doing can and cannot do. Basically what it is doing is can and cannot do. Basically what it is doing is making i can and cannot do. Basically i what it is doing is making sure having a second and third look as to whether they should be flying at all and an awful lot of people, particularly on the business side, frankly say it is not worth the hassle even if you can get out of your own country, getting into the next country, getting into the next country, and by that stage they have changed the rules again. Particularly you can understand people coming into britain when they may have to spend ten days in quarantine at their expense at some No Doubt delightful hotel somewhere near heathrow but it seems very frustrating if you are trying to plan a business and you cannot get this sort of thing sorted out. A huge weight on business, particularly Business Confidence, at a time when there is a thought that certainly the uk might be getting towards The End of lockdown. Getting towards The End of lockdown getting towards The End of lockdown. This is the other question lockdown. This is the other question i lockdown. This is the other question i had lockdown. This is the other question i had for lockdown. This is the other question i had for you lockdown. This is the other. Question i had for you because you say there is this constant pressure in terms of Business Confidence going forward and the lack of visibility about what is ahead and these conversations now about a possible third wave, the worries of the indian variant spreading across the uk, and what that could mean going forward and the Prime Minister and the government not necessarily being able to follow through with theirjune 21 promise of releasing england, for example, the economy in that sense, for hospitality, etc. All these things are a real problem. It is a huge problem for business. Particularly those in hospitality but also manufacturing because You Have supply chains, you also have live dates of certain goods which then have to be thrown away and a huge extra cost involved. Also there comes a question by the government because of course we all know someone who has been sadly affected or even has suffered a Loss Due to this horrendous pandemic. They comes a stage when you say, actually, we are now controlling the level of debt to such a low level that it is lower than it can sit deaths or diabetes death. We are going to have to say we have to start living with its cancer deaths. It is very difficult for politicians to do. The Flip Side is unless You Have the courage of your convictions you will be causing very severe damage to the economy because again people have come out once before and had to have the frustration of going back on the personal and Business Frustration that you cannot get going again. We have a plan, lets stick to the plan and there has to be at some stage, sadly for the people dying through this, gets to such a low level that we have to say it is an acceptable level. Are we there yet . I Suspect Yes. Level. Are we there yet . I Suspect Yes level. Are we there yet . I Suspect Yes. Level. Are we there yet . I susect es. ~ ,. ,. , Suspect Yes. We shall find out in time in Suspect Yes. We shall find out in time in the Suspect Yes. We shall find out in time in the short Suspect Yes. We shall find out in time in the short Term Suspect yes. We shall find out in time in the short term at i in time in the short term at least, thank you very much, justin urquhart stewart. Authors are set to be able to receive royalties on sales of used books. Up until now authors could only receive royalties on sales of new books, but a new Scheme Sets to make a change in the industry to recognise second Hand Book sales. Authorshare is a new scheme designed to create a fairer deal for authors in the used book market. But why do authors need paying twice for their work and could it lead to second Hand Book prices going up . Joining me now is graham bell, ceo, World Of books group. Good to talk to you. Just explain how this will work because are sold Second Hand and can be sold again and again. How does it work . The secondhand again. How does it work . Tue second Hand Book again. How does it work . Tt;e second Hand Book market again. How does it work . Tt9 second Hand Book market is growing really quickly at about 12 per year, which is great because it gives access to a huge range of books at low prices and it also protects the planets through enabling more items to be reused rather than created from scratch. But until now authors have not benefited from this more secular model of book consumption. Authorshare seeks to address that by rewarding authors for their creativity and allowing them to benefit as their stories are shared with other users. What will this do shared with other users. What will this do in shared with other users. What will this do in terms shared with other users. What will this do in terms of shared with other users. What will this do in terms of pricesl will this do in terms of prices for second Hand Books, how will it impact prices . That for secondHand Books, how will it impact prices . It impact prices . At World Of books we it impact prices . At World Of books we will it impact prices . At World Of books we will not it impact prices . At World Of books we will not change it impact prices . At World Of| books we will not change our Pricing Policy as a result. We obviously hope more people will come and shop with us but we dont intend to put up our prices. Dont intend to put up our rices. , , , , prices. You are ust going to take the hit prices. You are just going to take the hit financially . Prices. You are just going to l take the hit financially . Yeah, thats right take the hit financially . Yeah, thats right. World take the hit financially . Yeah, thats right. World of take the hit financially . Yeah, thats right. World of books i take the hit financially . Yeah, thats right. World of books isj thats right. World of books is an operation that has to acknowledge full stakeholders. As well as doing great things for charities and the environment we wanted to acknowledge the Author Community, many of which have gone through a really tough time during covid. Gone through a really tough time during covid. Have other retailers are time during covid. Have other retailers are signed time during covid. Have other retailers are signed up time during covid. Have other retailers are signed up to retailers are signed up to this . , , , this . Yes, at the moment it is ourselves this . Yes, at the moment it is ourselves and this . Yes, at the moment it is ourselves and bound ourselves and bound international, who chairman provides the scheme in the first place and we welcome Anybody Retailers to join the scheme. fist Anybody retailers to oin the scheme. , scheme. At the moment they havent . Scheme. At the moment they havent . No. Scheme. At the moment they havent . No, the scheme. At the moment they havent . No, the scheme scheme. At the moment they havent . No, the Scheme Is l scheme. At the moment they i havent . No, the Scheme Isjust Havent . No, the Scheme Is ust Launchin Havent . No, the Scheme Is ust Launching Today i havent . No, the Scheme Is ust Launching Today and, i havent . No, the Scheme Is ust Launching Today and, like i havent . No, the Scheme Is ust Launching Today and, like 1h Launching Today and, like i say, i have had a couple of conversations with used Book Retailers who are keen to jOin But Today is the launch. Retailers who are keen to Oin But Today is the Launchh But Today is the launch. What caused this but today is the launch. What caused this to but today is the launch. What caused this to start . But today is the launch. What i caused this to start . Obviously caused this to start . 0bviously books have been around for a very long time, second Hand Book sales, the industry also for an extremely long time, so why now . Why now . During covid we thou~ht why now . During covid we thought about why now . During covid we thought about what why now . During covid we thought about what we why now . During covid we i thought about what we could why now . During covid we thought about what we could do to support the Author Community and we want to encourage the reuse of books. People dont tend to throw away their books, they donate them or them so we got together with the Society Of Authors and said, how can we support authors through the sale of second Hand Books . We came up with this scheme. The idea is that the scheme doesnt just reward the small number of really well paid authors, it also helps to redistribute funds beyond that and for those amounts that cannot be allocated to individual authors, the idea is that the monies will go to the author contingency fund, which seeks to support those authors who have come across high time to. 0k, we appreciate you being other programme, graham bell, Chief Executive of World Of books group. Before i say goodbye lets look at the financial markets briefly. Just to see how things have gone today. This is a mixed picture in asia but on the whole a positive one. We didnt have any action on Wall Street on monday, markets were closed for a public holiday, as well as here in the uk. A long weekend for many. In terms of what is on the minds of investors, a lot of focus on the us at The End of this week, the event will be us Payroll Numbers out on friday. That is how the main markets in the us ended the month of may. The snp just a high, another strong month for markets mecca snp, a Record Deal strong month. The price of gold is fighting at a five month high because of concerns about global inflation in the price of gold. You are up to date, i will see you soon. Hello again. Bank holiday monday was the hottest day of the year so far. I would say no complaints, but may was a complete Wash Out the wettest on record in wales, the fourth wettest for the uk, and it was chilly. 25 celsius we had in kinlochewe certainly made a welcome change. That warm weather felt by most of us, however, we did have some of that pesky low cloud, the Mist And Fog around North Sea coasts, and some of that lingered all day in shetland, keeping the temperatures atjust ten celsius here. And we have got more of these Fog Banks to come as we head into tuesday morning. Again, shetland, very likely to see some of that, and across eastern england, stretching from norfolk across lincolnshire into yorkshire all the way to probably north yorkshire, you are likely to come across some fog, some low cloud, and even the occasional spot of drizzle. But otherwise, a dry start to the day on tuesday, relatively mild. And for those in the west, probably a glorious start to the day because we have this Weather Front out to the far west, and some of that cloud will get illuminated. Sunshine on through the rest of the day, but we will have some of these Fog Banks affecting shetland from time to time, but otherwise, i think, many eastern coasts better chance of seeing the sunshine. And its going to be a bit warmer, 211 25 celsius more widespread, the warmest places probably getting up to 26 celsius which, again, will make it the warmest day of the year. And, of course, itsjune, the skies are clear, thats why we have high levels of uv. If you are outside for any length of time, might be worth considering a bit of sun cream. 0n into the middle part of the week, we have some changes in the weather picture. This area of low pressure is drifting up from europe bringing with it some thundery showers. They will mainly be across southwestern areas of the country. Further northwards and eastwards, its another sunny and very warm day, in fact, temperatures could go as high as 27 celsius in the very warmest spots, but, perhaps over these North Sea coasts, a little bit cooler, given the onshore winds will be strengthening a little bit. So highs of about 17 celsius or so in newcastle. 0n into thursdays forecast, that area of low pressure continues to push northwards, just bringing the risk of those showers across Northern England into scotland. This front really marks the boundary between fresher Atlantic Air that will be moving in across the uk for many of us from the slightly warmer weather that we still have a across far eastern areas. Now, temperatures will be drifting down then for many, but still not bad, 19 celsius, Feeling Pleasant in cardiff, the highest temperatures, eastern england, Up To 2a Celsius in norwich. Good morning, welcome to breakfast with Sally Nugent and dan walker. 0ur headlines today. Just five months old and making history a baby with a devastating Genetic Disorder has become one of the first nhs patients to get a potentially life saving therapy being able to now have the Treatment Isjust going to be a Game Changer for us and give arthur the best possible life he could have. A vigil for a Flower Seller stabbed to death by the stall he ran for a0 years. His family say their hearts are broken. Naomi 0ska pulls out of the French Open, admitting shes suffered from depression. It comes after 0saka said she wouldnt do Press Conferences because they affected her mental health