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hello, i m sally bundock, here with your top business stories. let s start with oil, because crude prices have risen some 2% after saudi arabia and opec plus countries announced they would be cutting production to stabilise oil prices. saudi arabia said it would make cuts of one million barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around a0 % of the world s crude oil said they would cut production by some 1.4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. joining me now from vienna is cornelia meyer, who s the ceo of meyer resources. always lovely to see you. talk to us about these announcements. were you expecting these new cuts to come? i expecting these new cuts to come? . , , . ., come? i was expecting them and ou come? i was expecting them and you know. come? i was expecting them and ....
Important right now. actually, the more important thing right now. actually, the more important thing is right now. actually, the more important thing is yes, - right now. actually, the more important thing is yes, we ve| important thing is yes, we ve seen prices declined considerably and right now there is a negative vortex of factors causing the price upside so we have x was coming out of russia for waste and export flows, record export flows out of brazil for corn and in bulk corn is not wheat goes into the same feed rations for animals and the end result has been that prices have declined significantly so those farmers from europe probably have not had a more pronounced impact on pricing but moving forward if we look towards the end of the year, we could actually start seeing less of those bearish factors and more bullish pricing more bullish factors for wheat pricing and thenif factors for wheat pricing and then if we have a drought in australia and argentina and canada and ....