because oil producing countries agreed to continue cutting production basically to push up prices which seems to be working so far. saudi arabia said it would make cuts of1 million barrels a day injuly and 0pec+ said targets would drop by 1.4 million barrels per day from 202a. 0pec+ accounts for a1% of crude oil and let s get more for our middle east correspondent. it was widely expected before the meeting started on the weekend that 0pec+ would reduce oil production because it is hovering around $75 a barrel. there are concerns it could fall further with global economy struggling and demand wiggling. saudi arabia and some countries were really keen that the oil group goes ahead and makes another cut as a group but most countries were against that idea because any would cut the oil revenue crucial for their economies. saudi arabia was the only one who could make the cut and be able to manage its budget. why is saudi arabia keen to make these cuts? if you look at oil prices as
continue cutting production basically to push prices which seem to be working so far in saudi arabia said they will make cuts of over a million barrels per day injuly and targets would drop by after a one point million barrels. it accounts for about 40% of the rules crude oil and decisions can have a major impact on oil prices. let s skip more for my middle east business correspondent. let s get more. before the meeting started in the oil production and oil production where around $5 a barrel, they have been falling and concerns they could fall further with they could fall further with the global economy and demand weakening. in saudi arabia and some countries were very keen that the group, goes ahead and ask another cut as a group of most countries were against that idea because any cut would lead her impact their oil revenues which is crucial to their economies in saudi arabia was in when they could afford to make the cut and managed its national budget. when they came t
agreed to continue cutting production basically to push up prices which seems to be working so far. saudi arabia working so far. saudi said prices which seems to be working so far. saudi said it would make cuts of1 million barrels a day and targets would drop by 1.4 million barrels per day from 2024. 0pec+ accounts for crude oil and let s get more for our middle east correspondent. it more for our middle east correspondent. more for our middle east correspondent. it was widely exected correspondent. it was widely expected before correspondent. it was widely expected before the - correspondent. it was widely| expected before the meeting started that 0pec+ would reduce oil production because it is hovering around $75 a barrel. there are concerns it could fall further with global economy struggling and demand wiggling. saudi arabia and some countries were really keen that the oil group goes ahead and makes another cut as a group but many countries were against that because ma
Thejustice departments case revolves around these deals, which ensure pretty much every smartphone sold in america comes Out Of The Box with Google Search preinstalled. The microsoft boss said his company has invested more than 1 billion into the development of its own search engine, bing. Its also invested heavily in Artificial Intelligence and is considered a front runner. But he warned there were limits about how far ai could reshape the market. His appearance comes many years after the tech giants face its own monopoly case, which was settled back in 2001, which paved the way for competitors like google. Were into october in the final quarter of 2023, and this morning we are going to take stock of the year and see how the rest of it will likely pan out in the financial markets. Our next guest believes investors have grown more optimistic about the Global Economy and its largest markets, while the us has seen a better than expected recovery, the picture is somewhat shakier in china,
Of protecting its Market Dominance in Online Retail at the expense of consumers and third party sellers. Our north American Business correspondent erin delmore has more from new york. Its a case that has been in the works for years, under the watchful eye of ftc chair lina khan, who made her name in the Antitrust World With A Blockbuster 2017 legal paper detailing amazons monopoly footing. On thursday, khans ftc struck its widest blow against amazon yet a sweeping lawsuit alleging the company stifled competition in its online marketplace. 17 statesjoined in. The lawsuit challenges a bunch of amazons business practices, including prioritising its own products in search results, ahead of ones by third party sellers, and anti discounting measures that ensured sellers list their lowest prices on amazon, and requiring sellers to use amazons network of Delivery Services as a condition of being included in its popular prime subscription service. Rivals, according to the ftc, just couldnt comp