spurred about a growing rift between the 2 sides. also on our show, beijing is focused on its party congress, but covert cases are rising in the background, raising fears of new lock downs. and planned by new zealand attacks, cow burps is giving farmers there in the junction. but there might just be another way to reduce harmful missions. hello and welcome to the show. i'm seeing beardsley in berlin. our oil producers, lending a hand to russia. that's the accusation from washington. after the saudi led oil cartel opec plus decided to slash oil production by $2000000.00 barrels a day. not helping matters, at least from the u. s. perspective was meeting tuesday between russian president vladimir putin and president of the united arab emirates chic mohammed bid zion and ion the white house has said that in response to the opec cuts, which it says will boost russian oil revenues. it is reevaluating its relationship with saudi arabia. re odd says the decision to cut production is based on market

forces. right, more or less, let's go to mikhail crew to ken. he's an energy analyst and he joins us from oslo. macau, we've talked a lot about the oil markets in recent weeks. is this move? does it help russia? well, i don't think it helps arrest because arrest is going to lose a lot of it's for duction and exports in december. when the embargo on the rest of the oil supply comes into force in the united, in the european union. and anticipate in the development to the such countries as saudi arabia, which is the leader of an office lose, decided to decrease production in advance to have a bigger leverage over their market forces. you have, they have enough spare capacity during your late the prices on the market. they

might be successful in this right now. the market does not experience and shortages of oil. in fact, the supply is larger than the demand about $1000000.00 barrels per day. and the decrees, i don't think it plays a very big girl immediately. it will place it will play a big role started in december. in addition, i think it is also, there is also a political issue because of the saudi arabia and it's a well companions in opec cannot find well common language with the current american administration. they are unhappy about the attitude of the by the ministration. visa iran and inability of. busy a washington d. c to establish good relations. so with the arabic countries in the person gulf. and so i don't think they are go into a,

b is the current administration of the united states and by increase and oil production. we've heard mikhail just that, that saudi arabia has said that it feel threatened by this oil price car. do you believe then that when they took this move and pointed to basically the markets, the way the markets are moving right now, you said there's over supply, right? now, does it make sense when they say, look, we're doing this because of what we're seeing on the market, or do you believe this is something that's related more to the u. s. administration? yes, i think a z largest role is laid by the bought market considerations in the behavior of opec loss as the one. now they do not have a lot of spare capacity to increase if they need for political or commercial considerations. but they want to increase of this leverage after 0 cost of production over about $2000000.00 barrels per day. they

a leverage of the market. i mean, the spare capacity available for an increase would be about, well, for in the house or $5000000.00 barrels per day. and this is quite enough to influence of the market in the future if need arises. the u. s. has tried to release more crude from its strategic petroleum reserve in recent months. to what extent can it affect market prices, encounter action to what saudi arabia and opec are doing? briefly, if you can, i don't say though, i don't think this is a very important to measure. it does not the market measure it is going to and very soon and the well in a couple of weeks. so they're not, the states will have to re a feel of this threat to a storage facility. and i think the officials of the saudi arabia well are quite right when they point out that it is of the american administration,

which is not increasing, which is not making enough to increase oil production of united states and want to leave at their energy. analysts mccall, krusik and thank you so much and we go now recently other global business stories making headlines. the international monetary fund says the russian economy contract it less than expected. according to moscow, inflation has slowed and employment is high. with the i m f, confirming that view, saying a recession will be less severe than expected due to high oil exports and domestic man. a section of the jewish for oil pipeline connecting russia and germany via poland has been shut off after a leak was discovered earlier today, polish authorities say the leak was likely caused by accident. the incident however, has magnified concerns about security of energy supply across europe or china is days away from a communist party congress that's expected to cement the rule of she, jim ping,

the vent comedy fraught moment for economy growth slowing due in no small part to beijing's heavy handed approach, the pandemic. now case numbers are creeping back up. and fears are growing. the more locked downs are on the way beijing is ready and for the 20th communist party, congress checks and mass tests are once again, part of everyday life. as china is sticking to it 0 cove, its strategy aiming to beat new outbreaks with tough restrictions. and the price is high. economic growth nearly stalled in the 2nd quarter. china is set to miss it's official 5.5 percent growth target. the world bank expects the chinese economy to only grow 2.8 percent. it's a historic slum sack cheese and stores had to shut due to covert restrictions.

that's hurt retail sentiment and the job market. china's youth are most affected. one in 5 chinese below the age of $24.00 is unemployed. can beijing still deliver growth and prosperity? the pressure is mounting and chinese leaders to find answers to put china out of this. slum dw correspondence zones on han joins me now from taipei. so we're seeing already that case numbers are starting to rise again across china. how high are anxieties there about further locked downs badges. the recovery policy and normalizing testing has led to public condemnation. the tight control has become even more extreme now because of the common twenty's chinese communist party congress. some small areas were barricaded and some stores were surrounded by iron sheets. it's reported that even some far away villages and says she, an inner mongolia, entirely isolated in big cities, life science center, and daily inspect inspections. no dinner, no outside of hardy, no crowded place,

no visitors, other norm facing criticism. the government immediately shut down, comments on social media, and we can still see protest in the cities under such st. social control. so the anxieties a high at the same time bridging has made it clear in recent days, but it's sticking with a 0 covert policy. despite that criticism, despite the told that it's taken on the economy, is there concern within the party about this and what it means? well it's very difficult to tell because the chinese communist party is like a black box itself, but we can only on fight some clues from here and there for example, why stay media scene while news down play seating pins? 2 reasons, speeches, emphasizing cove ero, there, 0 covey policy in a similarly suggesting a growing struggle within the parties top actual and over issues like this and not long ago, china's highest position make embody stress, the need to resume resolutely fight against all words and actions that distort,

cast out i, or deny the countries pandemic provision policies. they will not have discussed this so called doubts if the waiver and about that there will be policy deny exists . it must have existed at a very high level. at same time, it's not just the locked downs that are taking a toll on the chinese academy. we also see a faltering property market, a crackdown on tech, and then continuing trade tensions. to what extent can we see if there's 2nd guessing of she's general broader path on the economy or for most of the experts we have talked to, they have no dallas, she will still hold the highest power after party congress. there are no clear, clear size there seem will changes. there will be policy at the start of his 3rd term. the chinese government researchers and economists who support see tend to view the current economic troubles of the short term problem caused by the pandemic . but most for investors are set skeptical about the chinese government's or if they will soon solve this present problem. if there is no change, we'll see um, it's huge impact on not just the chinese commie,

but the global economy verisign road. so dung han with us from taipei, thank you very much. you may have heard that cow burps are a not insignificant source of methane emissions and thus greenhouse gases. well, it's true. in fact, in new zealand, the gases emitted by the countries 6200000 cows are a major source of the country's carbon emissions. now wellington has outlined a plan to tax livestock, farming groups warren, the scheme could rip the guts out of small town new zealand. but there might just be another solution to problem take, look. these cows could be the future of agriculture in new zealand. their milk formula is blended with co butcher, a special probiotic. it is all part of a trial being carried out by new zealand, dairy giant, frontera, that true eureka moments, and the may was when we got the results of the face, kato child back, and,

and we were able to show that we got a reduction to maintain of up to 20 st. nice animals and, and with continued to be able to shy and read action and laws and we've got other, obviously we've got the trials under way and, but that definitely was there, you re commandments. new zealand outsides, agricultural industry has made it unusual among industrialized economies as around 5 sheep for every person and 2 cows. happily its greenhouse gas emissions come from farms. and that's something the government wants to change with. it's planned to make farmers pay for emissions. importantly, all money raised from charges on emissions will be recycled back into the system to fund fe, the research toes and technology as well as pharma incentives in order to help reduce emissions. all revenue will go back into those golds the government

plans to reduce method emissions from farm animals by 10 percent by 2030 and have them by 2050. but the plan has come and a wide spread criticism from farmers who fear for their livelihood. so maybe it is science to the rescue and use the lent farmers may very well have to pin their hopes on solutions that could simply reduce emissions. that's our show. we'll be back in a few hours with more. in the meantime, checks out a line d w dot com slash business, also on youtube or the de dog news channel. i've seen beardsley, thanks for watching. ah ah, with

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