barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around 40% 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. sameer hashmi is our middle east business correspondent. let see how prices are faring just now. brent is currently up 1.5% so far in the day but keep an eye on it because there is a lot of volatility as you might expect as investors and traders try to work out exactly what the production cut could mean. sameer hashmi is our middle east business correspondent. perhaps not unexpected, this is what we expected, it cuts production and keeps prices up and we know how reliant many are on the revenue it creates but it will not go down well around the world. two creates but it will not go down well around the world. creates but
Im stephen sackur. Tu rkeys im stephen sackur. Turkeys president erdogan was once the darling of western governments, now hes viewed with deep suspicion and the thing is, he doesnt seem to care. So, american and european misgivings about turkeys latest military operation inside syria are being ignored, so too requests that he ease up on domestic repression. My my guess is turkey deputy Prime Minister mehmet simsek. Will turkey pay a heavy price for this pivot away from the west . Theme music plays. Mehmet simsek, welcome to hardtalk thank you. I think we have to begin with Turkish Military operation over its border in Northern Syria top it isa its border in Northern Syria top it is a dramatic intervention in the affairs of syria. You said when he began weeks ago that it would be very brief it no longer looks as if it is going to be brief. First of all, we had no choice but to do these operations. It is all about securing our border, the safety and security of our people. Over the cours
London. Barton in we are one hour into the tuesday session and docs arising for the second day. They were rising and now it is dipping with the second day of gains. This is the first time this has happened since midjune, but we are down by 1 5 of 1 . The german 10 year yield is rising, it fell by three basis points yesterday because of a more hawkish president draghi. Down for the third and itinst the dollar, is the best performing g10 currency against the dollar so far in 2017. Big stockpile data expected from the eia tomorrow. We should continue to see a drawdown. 1 5xcrude, lower, down by of 1 . Lets get the bloomberg first word news. Reporter President Donald Trump has nominated quarles to be the federal reserves top banking regulator. He was a senior official in the george w. Bush ministration. Quarles, who will be the first person to solve than the to serve and the role of the vicechairman, will be a pivotal part in easing after the financial crisis. Donald trump juniors lawyer h
David it is all straight ahead on bloomberg best. David hello and welcome, i am david gura. This is bloomberg best, the weekly review of the most important analysis of Business News and interviews from around the world. Two giant Chemical Companies took over the headlines. Shery bayer is proposing a blockbuster deal that would create the largest supply of Farm Chemicals and genetically modified seed. Bayer wants to buy monsanto for 62 billion in cash. That represents a 20 premium. It would be the biggest takeover ever by a german company. Francine if monsanto actually rejects the offer, are you ready or do you have a capacity to increase the offer . Werner we are totally convinced about the effectiveness of our offer. It is a 37 premium over and above the effective share price as of may 9. That is a strong testament as to the Value Proposition of monsanto shareholders. It is also in line with the transactions and attempted transactions we have seen in the past. We are fully convinced t