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CNBC Worldwide Exchange May 11, 2012



force lenders to set aside an extra 35 billion euros when it unveils a plan to clean up the banking system today. lots to get through, but we start off from news from the iea which says oil prices are likely to stay high because of geopolitical riskitic despite a rise in world supply. they say global oil supply rose 600,000 barrels a day to 91 million a day in april. 90% of the increase coming from opec. we know that saudi arabia is well over 10 million barrels a day, but the iea says that uncertainty remains and last year they released oil stocks, would be ready to act again if necessary. brent as you can see has been declining over the last few week. we ll have more analysis of that. first, though, let s get back to the big story over the last 24 hours. jpmorgan announces a $2 billion loss in its own portfolio, the losses which occurred in the past six weeks stem from bad bets and credit default swaps made by the chief investment office which is designed to hedge th ....

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