market having to work full recovery. the fundamentals of the oil market change significantly but to killer lee since the beginning of the when we started implementing the. corporation we have seen very high level of conformity of coverage in over one hundred percent by the participating countries and we have seen almost all growth to grow significantly between the fall of two into seventeen going into the winter months we have seen a hefty tool million. good old soul all in all we remain on course finally we can see. insight so we're going to

go through all of that in detail for that you have said that russia and saudi arabia's readiness to extend the supply cut agreement for another nine months actually clears that for the november thirtieth meeting in vienna final decision on the deal should be agreed on here should be taken here is the agreement between these two nations as good as an all black deal would you say. if you. participating countries the kindle. the russian federation the two biggest producer . within this group addition to the balls so to. the leadership it's alinsky finally. the minister of energy. he's russian. is excellence. played a pivotal role. in getting this group together. i mean addition to

get the group to agree for the first time in history in such a supply of arrangement including creating. new organs. and ensure implementation fully. there for this. very special position within this group so i think back to the days where the price is very very low and back. irrelevant as an organization could really do much about us shale oil russian oil and now my milk of the organization you're taking decisions you're brokering deals they work they would you say opdyke is back are you back in control all over the world all trade or is it just down to brokering a deal between russia and saudi arabia. in the past fifty seven years.

of the existence of this organization. the organization has gone through several cycles. in some of the cycles it's really evans question. to put it bluntly. we have seen. if you like. in the past depending on which cycle but. only survives but. strongly. and this is what you see what you are seeing beginning from last year is vintage optics. when it's used to it. can rebuild confidence. regain those. decisions and in. it was decisions effectively but with all respect there are

still questions regarding how can the lasting be made with. opic members are bickering with each other for instance he had saudi arabia and other gulf states are. getting and other opec member qatar you have qatar and that is trying to cultivate close ties with another opec member which is not on you have. irritating members coming hard now we have been able to insulate the organization from the geopolitics. and the impacts of geopolitics oil. in fact done probably more than any other group organization in trying to ensure the deep. deep of oil. in the pause we have. very challenging situations when some of our member countries in war.

use such to give. insulated. from the. look of the fundamentals. of this commodity. the very decisions which we implemented. expect anything different this time of. member countries. more than. to the implementation of the declaration of cooperation we have received. indorsement. from. the highest government member countries including the russian federation president vladimir putin himself indorse. the. implementation. all of the declaration of cooperation

in order to not only to restore the stability but to sustain it going forward to avoid. the course of quinces a what we went through in the last couple of years so on iran a previous question and it's interesting that countries like nigeria and iran they haven't released oil production to their level but they're very vocal supporters of the bill extension what makes you think that they will actually cut their oil production in nine months if they haven't done so yet if you recall the accord that was in to in to on the twenty eighth of september last year in ages took into. the special succumbs to this is all three or four member countries. islamic republic. libya. and this

has given them. special consideration if you like. not only in the declaration of cooperation that we agreed on the tenth of december but also in the implementation and i can tell you that iran has been fully implementing each. and the declaration of cooperation nigeria and libya have made significant progress in recovery in the most capacity. and we look forward to them fully coming on board to participate. with all the rest of the participating countries so do you aim for this deal to be permanent because the permanent countries will start to pump again and the prices will go down again then you'll need a new deal so it's like a never ending circle the declaration of corporation has several facets.

one is the supply adjustments but we're also looking beyond the rebalancing over the market. which is insights know that beyond we need to keep this form of producing countries together. to ensure that we do not sleep bark. into the downtown. benefited nobody. in the last. couple of years and build in this plot form this broad broad form. into all paghman and structure if you like that will ensure those. gains volatility instability in oil markets and in the oil industry going forward that's a bit about how american oil fits into this whole picture because with heil prices

what more incentive i'm sure is the enemy even more you know so well on the market does opec have enough production to offset the americans by. the united states through all the shell bases played a significant role in the process of a couple of years by bringing in supplies at a time when we were facing supply defaces from several of before member countries within opec we're facing a variety of challenges threatening. supplies libya for example a loss practically all this production and before. the disturbances there were producing almost one point six to one point seven million but of nigeria had lost almost one million. exports from iran well. buthe sanctions and so on and so forth. people forget that with. the additional supplies that the

war from the shell bases we could have phase more severe image a crisis they have used a combination of technology. and sophisticated financial markets. very aggressive management techniques. to make the shill revolution if you like possible. we have started seeing a deceleration. in the growth part in the united states particularly. tired or we have seen the wreaked numbers beginning to fall we have seen the real and will productivity. come in. and we have seen their shareholders their investors questioning the

key nude use of the current business model all of the wrong versus the we have seen a very sharp but it does in the fall funds from wall street that have been fine. this ramp up supply from about an average of sixty billion us dollars to just six billion dollars your excellency wouldn't take a break right now one way or battle continue talking to mohamed. the secretary general of patton told him of the upcoming meeting in vienna of the industry giants and whether they will be able to keep production prices stay with us.

we all willingly accepted the risk of being shot wounded taken prisoner but noone has signed up to be friggin poisoned by our own people i've seen stuff that was nuclear biological and chemical products the said do not truck tires all types of styrofoam polystyrene batteries trucks there was a complete denial i think at all levels of government that there was any connection between berm pits and what these brave soldiers were suffering from to compensate every soldier marine airman and sailor that was on the ground that are complaining about illnesses from their exposure from the burn pits would really literally send a v.a. broke and they don't want to pay it so the way to the decades a lot of those soldiers will die in time and they will have to pay and. call for

help and get the middle finger to move used to model is. delayed and i hope you die . because there's a survival guide up stay single malt going to start family credit all the service. the seriousness there are you going to get it back. oh heck no but this is a repatriation scheme where we get the rest in seven years. still if the separate cars kaiser of course.

and we're back talking to secretary general mohammad. or excellence in international energy agency actually says the high prices are also linked to the fact that there were storms and cataclysms in the gulf of mexico and all producers were obliged to shut down the production temporarily but once it all gets back on its feet and the cataclysm subsides i think it's only logical the production you know will continue even more eagerly so what if that happens because you all have the guarantee that it won't happen that kind of contradicts afterwards to actually cut oil supply kinny pressure that america not to do that. we have for the first in history in. discussions with the united states so all your company is a personal you led delegation to meet with the producers in houston

to begin to explore. all possible. all i can tell you and known it was a very successful exploratory meeting. we began to understand. through anonymous is face to face sitting down with them. one important message that i took away from the meeting. or the realisation by all of those who participated in that in number of historic meeting. us producers. or non-conventional with. we all belong to the same market we belong to some industry therefore the history the. or the impacts of this cycle this cycle. left. us insulated

from its consequences and its impact and therefore we agreed at that meeting we all have a shared responsibility. to maintain stability to minimize. the impacts of the cyclical nature of this industry because nobody had a great cut supply and with you. i would not say a soul i mean that was more the idea. you will appreciate that in such a fast meeting for the. u.s. company with all the incumbrances. off their legislation. and their nose decided to sit with you know that's a significant something must have really pushed them to this table to sit down with us. and i am satisfied that we were able to have

a very unfriendly discussions we shared. no experiences. we understood our differences better. requested that we should continue this dialogue that this is not only beneficial to all but it also beneficial to them. some of you in the media said we broke the bread or we broke the ice. or just regarding. shale oil saudi crown prince mohamed. that. iraq is honest is it really that we're in for a new era what he means. well as i have told you you have seen the numbers that are coming out of the united states. the production that we have seen in the last several years and particularly from dispose of them by december.

this year when we have seen a significant ramp up production is not likely to repeat itself in the short to medium term within that time frame and why because. this. was funded heavily by the public and private equity. to their focus was on how to produce higher. profitability. all this is changing and what is the evidence you can see the numbers of rigs particularly oil rigs continuously known coming. to their own productivity report themselves in the us the wells as well as the rigs. decelerating known the

projections the boy in fort. whether it is the whether it is. the company's them so's beginning to come. to question those projections for twenty eighteen and beyond i have met them in several for those four junctions totally out because they feel the pinch they're the ones in the field in the trenches they do not have the capacity for that incremental growth going forward your excellency as you know the international deal on iran's nuclear program is in jeopardy thanks to president trump that means that the future of iran. oil output is also uncertain. how can you plan to happen for production volumes when you don't know iranian oil is going down market or not. to the best of my knowledge i'm not

sure whether the nuclear deal is in jeopardy. in the united states has not officially pulled out of the. great effort of the p five plus one. and we remain hopeful. that the reason will prevail. in the member of the p five plus one. or would be continued. of this noble international effort. there for. you with the country we hope. normalcy. will be allowed to evade. our talk about another political aspect that actually

some are fast oil prices iraqi kurdistan referendum for instance and the standoff because between the kurds and the raw. government in turn what happens is that quite a bit of iraq you all didn't hit the market. do you expect this uncertain to last because that's also keeping the oil prices higher and is it fair to say that in a way. iraq signal is not only a founder member of. this organization is a very strong member. especially in the circumstances of. all of us in the organization. nor to the government of iraq. with the international goodwill but it has been able to all. those the

situation hopefully would restore for the stability. in that. iraq iraq is not only important to orbit but it's also key to this to be true of the region. whether it is on energy or on geopolitics. we remain confident that the government working with. international partners. would continue to contain the situation through dialogue. and also continue with the must of walked over to call struction. in iraq it's also interesting to see how during this stability and rising prices they producing countries are reacting because of course the high prices are appealing but they kind of get greedy look what happened to indonesia right they don't wanna they

refused to cooperate on supply of cotton and they're not members anymore so is it fair that countries that actually agree to. comply to that agreement are actually cutting supply while the countries are pumping and selling it is this sovereign decision or every part of spitting country. pre-decided to join this noble of the global effort or not. so far we only quote twenty four countries. who have agreed voluntarily in their own national interest to do in this global effort indonesia has been a member of opec for many many years. unfortunately they had. some challenges domestic challenges regarding the a production therefore last year they decided to freeze not

opt out but to suspend their membership until it will to sort out their domestic challenges and we look forward to indonesia coming fully to participate not only within opec us in limbo for member but also in the declaration of corporation secondly we also look forward to other produce of countries who might have been skeptical in the beginning whether it was water or whether it was possible well we would implement what we decided no. i think that skepticism has been addressed. we did not all you agree on this is total decisions we also implemented obligations fully and in a timely manner. everybody is seeing the response of the bucket and the industry even confidence in the industry is beginning to return even the number of joyce

companies in this industry have started hiring so i don't think any produce needs to be postulated. to come and join the noble. so we are looking forward to those that have been able to join this train. from the first train station. to police joining us because it's all pretty. well so thank you very much for this until. the past. november thirtieth meeting and everything else thank you thank you personable and.

even. to people i live the good yourself and. find. the need no. need to. be young. we have many things in this world this is you know for everyone why some people

take our things all the power just for themselves. we all willingly accepted the risk of being shot wounded taken prisoner but noone signed up to be poisoned by our own people that was leaked or biological and chemical products said to not truck tires all types of styrofoam polystyrene batteries trucks there was a complete denial i think at all levels of government that there was any. connection between burm pits and what these brave soldiers were suffering from to

compensate every soldier marine airman and sailor that was on the ground that are complaining about illnesses from their exposure from the burn pits would really literally send a v.a. broke and they don't want to pay it so the waiting in decades a lot of those soldiers will die in time and they won't have to pay a. call for help and get the middle finger the movie is to model is. delayed and i hope you don't. apply for many clubs over the years so i know the game inside guides. football isn't only about what happens on the pitch put a final school it's about the passion from the fans it's the age of the superman each killian erroneous and spending city didn't twenty million one player. it's an experience like nothing else on the because i want to share what i think what i

know about the beautiful game but great so will more chance with. the base this minute. brings politics that's what many are saying after the d.n.c. is acting chair donna brazil claimed bernie sanders was cheated in the primary but the rigging goes further the g.o.p. establishment didn't embrace trump then nor now parties at war with themselves. i am. going. to stop smoking. and my little. the anything.

i. saw he led coalition airplanes carry out an air strike on the ministry of defense in the yemeni capital of sanaa. u.s. air force claims a missile that was launched at saudi arabia from yemen on saturday was iranian made this is despite their brands denials it had supplied any such hardware to rebels in yemen. ricky leaks founder julian assange says u.k. prosecutors have admitted to deleting e-mail exchanges concerning his case. for more on those and other headlines you can visit our t. dot com a new episode of the big picture is up next with.