a great example is conoco and et reported results on the same day. conoco stuck with their message.he cutie completely reset -- eqt reset things. their stock has slumped in a sense. alix: you have u.s. productions surpassing russia short-term. can that continue? if investors continue to put pressure on companies to not spend as much on and do more dividend buybacks? >> the interesting thing is we thought that companies would see their production figures hampered by what is going on in the permian. the fact is they have not. the oil services companies, they are the ones that have been hampered because companies are deferring completions of the wells. eventually that oil will come to market. to your point about whether the production can continue, the efficiencies are still there. alix: fair enough. well, some of the big oil ceo's are still very positive. i spoke to the bp ceo. here is what he had to say. >> things look well. we have had a strong quarter that is built off the back of the six previous quarters in terms of the plan we laid out. $70 is a pretty good price right now in te

phillips and hess, identical railroad tracks, conoco is down 20%, beta in the relative market and crude. hess down almost 25. i'm going make the bet that they are oversold, so bad they are good, that one can trade them on the long side. buy. >> all right come on back over. come on this way. >> just before he -- we usually like to vote upon it. >> i made a decision. >> executive decision. he's coming over. >> that's what melissa does, too. he can do whatever he wants and he did >> you believe in what mr. worth -- do you believe in his worth? >> carter sits on the top of the hierarchy, so, yes. >> is there a bounce coming? >> i think the selloff is completely overdone. the selloff in the levered names is ridiculous. a name like anadarko petroleum which in october was a $70 item is trading now at $54. that's a huge movement in a short amount of time if you get a commensurate bounce you'll see the levered names do even better. >> can i ask you a question. >> i hope so. >> relative and right near the bottom of the relative chart which is interesting if it were to get back to the top of the r

abandon the development project in the sea between timor and australia — a few days after its partner, conocout over $700 million to buy the companies' stakes but experts say they will have great difficulty bringing the project to fruition. joining me now to explain what this means for the future of timor—leste is stephen dziedzic, pacific affairs reporter for the australian broadcaster, the abc. i think you broke this story. this was going to be a great point of national pride and a game—changer for east timor. what has gone wrong and what does it mean. the government from east timor has persuing this project pipeline and as you mention, it is an impoverished country and it is very keen to take some resources after processing. the problem is, none of the companies that hold the rights to greater sunrise believes the plan isa to greater sunrise believes the plan is a feasible. they would rather extend the pipelines to darwin and process it there. there is always a plant there and it is much more plausible. a number of parties handed over their stakes to the east timorese government. late yest

abandon the development project in the sea between timor and australia, a few days after its partner conocomor government has paid out hundreds of millions of dollars to buy the companies‘ stakes, but experts say they will have great difficulty bringing the project to fruition. stephen dziedzic is pacific affairs reporter for the australian broadcaster the abc. he told me what has gone wrong with the plan. the east timorese government has been obsessively persuing this plan of a pipeline between the greater sunrise oil and gas fields and its south coast. as you mentioned, it is an impoverished country and it is very, very keen to try and take some of those resources to its own south coast, after processing. now the problem is that none of the companies, the largely oil and gas giants, that hold the rights to greater sunrise, believes that the pla is feasible. they would rather instead pipe the gas to darwin, in australia, and process it there. there is already a plant there, they think it is much more plausible. over the last couple of months, we have seen a number of parties essentially ha

that is reflected in the oil stocks, conoco, the oil field service companies like halliburton, they are taking it on the chin. a lotta folks are looking at 2019 and they are not sure what the set up will be with the supply and demand balance. taylor: what is this an evidence of brent below $60 and more importantly how quickly we got here? >> i think it is reflecting the speed at which is sentiment turned around. months ago, we were talking about shortages in the market. saudi arabia reassuring everyone that they would increase supply to meet that. but then they came into the market with these extra barrels and realized quickly they did not have the demand for it yet. the expectation being maybe that q1 it would appear. but the reality is a stockpiles are growing into they find themselves in a tricky situation, because they have a u.s. president who does not appear to have a bottom for his oil price, he wants lower and lower prices, but at the same time they have a budget to balance in saudi arabia. and russia is getting a little worried, at least with the price levels. this is when russ

>> i would say within a 10 mile radius there is conoco phillips, sasol, ppg. i would say about 15. >> what are most of those companies making? here,t of the companies ppg is paint. gas. oil. vinyl. chlorine. sasol is a chemical manufacturing company. ofy are in the process expanding their chemical plant. the final and products prior to the expansion were the turgeon alkalites.t ultimately ending up in final gamble. of proctor and thinks like dishwashing powders. the company felt that it needed to address the surrounding communities. mossville is one of those. so we went to the community leadership. nownvironmental action group. we did a community needs assessment. one of the things they said was give us the opportunity to move. >> i was among the first to move. because i was never one to stand in the way of progress. i figured it would be done. generate for to generations to come. i was living in a 40-year-old home. i knew the value. what i was getting offered for it was much more than it was worth for me to stay. i would have to have stayed and the fight prog

are some of the major exxon, chevron, conoco phillips and the chesapeake, they are all getting hit anywhere from 3% to 4% to 7% the downside. financial goldman sachs a few shares here. you're in a bear market. they been helping to shape 150 points out that out today down three and a quarter%. shares at $191.76. those are fresh two-year lows. let me look at shares of goldman sachs as we look at them down 600 points since their record high on march 12th of this year. i know that hurt. looking at the dow, we look to session lows once again. i pause because we were down 595. we are now down 596. now we are looking at a low of the session at 603. we are just five points away from that. goldman is a dow component and while the stock tumbles, props to golden goldman and morgan stanley for being ahead of the market selloff today even if they missed yesterday's nearly 400-pound drop in the dow. the last several hours goldman sachs announced cash is king. as analysts say they expect 2019 to be a lackluster year. the end of 2018 is a lackluster year. they expect to see production of single-digit stock

have breaking news from conoco phillips.he end of the year for its remaining assets in the north sea above norway. those assets could be valued at $3 billion in the sale according to people familiar with the matter. a lot of these companies have been trying to get out of the north sea and move into more profitable areas. breaking,il today snapping its losing streak as well, finally finishing higher on the day. let's get you a check of the latest business headlines. don't sell your desktop fill your tech social feel your tank up just yet -- don't fill your tank up just yet. prices are down 20 persons per gallon in the last month. him andtes could see another five-15% fall before thanksgiving. bloomberg crunched the numbers and found dels equity group investments sold or plan to sell from for company since october last year. the dallas company has sold $8.5 billion in properties. is selling a head of a synonymy of supply. fight between silicon valley and investors. as of june 30 they valued the format for billion dollars. is u

rewarded in the stock market these are the pledgers we refer to we still like bp and shell here and conocoroduction side. those will work well next year. >> downgrades on some mega caps because of weak correlation to the underlying commodity, right? >> yep. >> you don't chase exxon automatically? >> we think these stocks have decoupled from the price of oil. so higher oil prices were negative for a lot of these companies, not positive. for the pledgers, higher oil prices were positive not negative that's the reason they've out performed and will continue to out perform. the big oil companies, shell and bp at 6% dividend yields they're repurchasing shares, what's there to be afraid of >> credit might be one thing i'm afraid of, tim, should there be concern on the credit side >> no. we think there's very select -- where companies had maybe been on life support and have started to emerge. companies that didn't have the strong asset base generally filed during the downturn. the company that have emerged, companies have largely been able to term out debt we don't see a lot of imminent issues fo

exxonmobil conoco chevron, bp royal, these multiglobal, multinational companieses, and this is despiteently posting some pretty good earnings from chevron and exxon. on a flipside that have black friday prep tailers are responding wal-mart fractionally higher. other names down kohl's a biggest loser on that board right there. and then let's get become to big momentum names most of them technology names. technically some consumer discretionary services speaking of which amazon should enjoy a great bang today and next five days. up only -- up so far at this early point of trading. i want to bring in company joining us today, market watchers david dietz and dr burton along with elizabeth macdonald and deirdre and start with overall markets okay we have about a month left david any -- what do you think will end up this year? >> i actually think we're going to go higher i see, there's three main players here we've got china. we've got administration we've got jerome powell two key meetings you have it watch for next is group of 20 with chinese administration talking tariffs with with any si