does it seem like abu dhabi has the stronger hand and can get some of the baseline changes they want?k you for having me. i think the fact that uae is doing now -- it came as a big surprise, first of all. but i think it was a calculated move and the fact that the uae kind of signed up to a deal back in april 2020 two which it doesn't feel comfortable anymore. that is because, if you remember back in april 2020, you had the huge price crunch. there was a bit of a sense of urgency. meantime, in the past two to three years, it has happened is the uae has increased production capacity significantly, while most members of opec-plus have seen capacity remain stable. so the uae has a point that they are keeping eyes on a big chunk of their production. who has the higher hand? i don't think it is the uae, because the saudi minister said yesterday all ministers agreed -- all members agreed to the extension in 2022 and only uae rejected. i don't think the uae has the higher hand here, but there is the idea that the uae is not a member anymore, and there will be talks in the organization, and wh

kilometer long, 0 carbon emissions city. further, smart cities have been designed for dubai and abu dhabi, many of which are green, or at least pretending to be the, the 1st was a carbon neutral city in abu dhabi, which was supposed to be completed by 2014 the then came the financial crisis. and the completion date was shifted to 2030 but except for the buildings designed by architects or norman foster, they're still little to see. the problem is that these utopia tarnish quickly, a spanish architect to be sent there. i was in my star and my studies over these was a good day. i ended year 2008 and they have a plan to do a cd data was in fact very expensive because he was only they do the on the podium in the same way that these, the line is how the avia it will not be done because it's impossible to do city that has a huge underwriting for structure. guajaro's is planning his version of smart cities in the hills near barcelona. rather than transfer a motor vehicles into tunnels. his plan is to avoid them in the architect. i just want to pay for john a new self sufficient city near beijing

in abu dhabi, they never even made it to the virtual opec meeting. no meeting, no date, no barrels.s a tight market, dani. the tail risk of the uae opec is not moving. there seems to be a consensus that we could get a deal but it may take time. dani: right, that consensus, for an oil market, that perhaps can calm some fears, but it is interesting to hear folks say that the long-term, this seems more bearish for oil if we do not get that agreement. what does that mean for opec in the future? does that mean more supply in the market? manus: some people are saying it is vitally, either they do a deal and take pressure off the market. there is political angst between saudi and the u.a.e. the uae is using oil as an excuse. think of what differentiates the uae to saudi -- yemen, israel, trade, this is a deeper, political narrative in the play, dani. dani: for two countries that were seen drawing up plans for a political union a few years ago that did not come to fruition, if you can't agree to something as simple as pandemic response, what does that mean for the rest of the situation? wha

of which are green or at least pretending to be the, the 1st was my dar, a carbon neutral city in abu dhabi, which was supposed to be completed by 2014 the then came the financial crisis and the completion date was shifted to 2030. but except for the buildings designed by architects or norman foster, they're still little to see. the problem is that these utopia tarnish quickly, a spanish architect to be sent there. i was in my star and my studies over these was a good idea. i ended year 2008. and they have a plan to do a c, d was in fact very expensive because he was elevated on the podium in the same way that these, the line is how the avia it will not be done because it's impossible to do city that has a huge underwriting infrastructure, who is planning his version of smart cities in the hills near barcelona. rather than transfer a motor vehicles into tunnel. his plan is to avoid them in the architect has just want to pay for a job on a new self sufficient city near beijing. recycling energy production and food production will all be taken care of within the city limits lose. our city sho

keep an eye on the indian minister, a very important market for saudi arabia and for abu dhabi. they're paying already the equivalent of $5 a gallon. that's a political problem there will be pressures. i think if they continue to follow the market, it will be a tight market at least for the next several months. >> wow, and i did not realize that about the situation in india as well. good to see you toe. dan yergin on the price of oil oil ranked as the top inflation trade ahead of bitcoin, the consumer staple, ahead of gold let's bring in the chief investment officer with pickering. i know you are dabbling with new fuel investments and ideas right now. what's your best idea? is it in the fossil fuel space >> yeah, kelly, thanks for having me on we love exposure to the fossil fuel industry. there's a lot of green investments that are interesting. oil is $75 feels like it's not forgive lower in the near term as dan yergin just said we see the u.s. oil and gas producers as probably the best play they're producing the thing that prices are going up. >> what causes cost destruction? >

kilometer long, 0 carbon emissions city. further, smart cities have been designed for dubai and abu dhabi, many of which are green, or at least pretending to be the, the 1st was my dar carbon neutral city in abu dhabi, which was supposed to be completed by 2014 the then came the financial crisis and the completion date was shifted to 2030 but except for the buildings designed by architects or norman foster, they're still little to see. the problem is that these utopias tarnish quickly a spanish architect to be sent there. i was in my star and my studies over these was a good idea. i ended year 2008 and they have a plan to do a c, d, w. as in fact, very expensive because he was elevated on the podium in the same way that these, the lines how the avia it will not be done because it's impossible to do. city that has a huge underwriting for structure. quite yard is planning his version of smart cities in the hills near barcelona. rather than transfer a motor vehicles into tunnel. his plan is to avoid them in the architect has just want to pay for a job on a new self sufficient city near beiji

are concerns and officials are making phone calls to the most relevant capitals with riyadh and abu dhabiere needs to be concerned in the background on opec in washington dc. >> what about the uae forcing a rebalancing of opec, will that happen? >> you could potentially see they re-force everyone to come back to the table and renegotiate their baseline, this is key abu dhabi who has spent millions of dollars to expand infrastructure in their production. they want to flex their muscle, they don't want to be in the shadow of riyadh. they are at a 3.2 baseline and 13.8. if they do that, prepare for others to come and the saudi oil minister said that iraq and others would likely lineup. it would take months to rebalance all the baselines for though plast -- opec-plus members. >> this raises a question, the idea of what the american influences overseas whether it is dealing with opec and there is the situation right now in afghanistan with the pullout of troops and the commitment rate -- made by the previous administration that hyden appears to have fulfilled, we are getting reports out of afg

the relationship the between abu dhabi and we had becoming more difficult -- and riyadh becoming moreifficult on a number of fronts. what does this mean for oil in one year, two year's time? how do they continue to manage this situation as a homogenous group? will: i think you are right to point out that the relationship between abu dhabi and riyadh isn't what it was. traditionally, they were the closest allies within opec, and what saudi did come of the uae would follow. clearly that has broken down interns of oil, where the uae is keen to pursue a path of growth investment, and it is also the wider relationship between mohammad bin salman and mohammed bin syed that isn't what it once was, and there had been tensions about the war in yemen, among other things. but i think it is much easier to form unity when oil is $20 a barrel than it is at $75. the oil market should look at a turnaround, and that will make some markets chafed. i think it is very much prince abdulaziz's deal. i think these are tough times for him. guy: we will leave it there. we will continue to watch what is happen

there probably should have been some sort of disagreement between rihad and abu dhabi.. there was always going to be a disagreement. they generally are pretty tight, the saudi's and the uae. you wonder whether this is a moment in which we need to reestablish or recalibrate relationship between the two and it will take a few weeks for that to happen. the sense in the market today is ultimately this will result in more oil coming into the market. you already see a selloff in the bond market being reflected in what is happening in commodities. that cannot be ignored. that does solid -- that does seem to be the trait. let's get emma ross-thomas's take. what do you make of the price story we are seeing in crude and ti? today getting reversed. we do not know anything new. emma: i suppose it was always the case you could read this in two ways. one way was no extra oil into the market. august was going to be bullish and that is what we saw straightaway. there is a risk in there the unity of the cartel will crumble , the unity they fought so hard that will melt away. i heard one

well, last i checked, mailing a cat to abu dhabi was my god given constitutional right what's next?covid cases are once again on the rise, especially in parts of the country where vaccination rates are lagging and a contagious new variant is spreading. we desperately need to get as many people vaccinated as possible the evidence that these vaccines are safe and effective is overwhelming from both clinical trials and real world studies. and yet over the weekend, attendees at the cpac cheered the news that the biden administration has not been able to get as many americans vaccinated as they hoped for >> they were hoping, the government was hoping that they could sort of sucker 90% of the population into getting vaccinated and it isn't happening right? there is - [ cheers and applause younger people are well aware of what the risks really are. >> seth: that's the political equivalent of clapping when a waiter drops some dishes that's the worst thing i've ever seen a crowd cheer for since alice cooper bit the head off a life chicken on stage. and yeah, maybe it happened in 1969, but ma

abu dhabi says plan to extend the groups to curb oil production unless it's giving -- given a baselinehe agreement -- we should kickstart . chinese president and angela merkel and president mike braun are -- president m --macron. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm up juliet. at this is bloomberg. >> some stories we are watching today. among those french brands facing investigations. local media says it defense meant -- ministry intends to boost personnel. >> we are still in japan. the ruling failed to score the majority. at some point after the olympic games, what's at start that what's at stake? -- what's at stake? >> a lot is at stake. back in april, the lbp suffered three election losses in a single day. they are shaping up for the general election. this tokyo metro assembly vote sunday could be seen as a referendum and the handling of the pandemic. there have been scandals. the very controversy old olympics. he's been a staunch supporter of going ahead and handling. no for

abu dhabi says they will not accept a plan to extend the output curve beyond april 2022, unless it isetter terms. the saudi's say they will not give into those demands. manus cranny spoke to the uae ministry manager and an recorder and spoke exclusively to his saudi counterpart. >> i would emphasize, that is one country, which is said to me, but this is the reality. annmarie: how concerned are you if there is no agreement and potentially we could see what we saw last year, which becomes a price war? >> we have an existing agreement. i keep reminding people that unlike what you had in march, we have an agreement. we will honor that agreement. the agreement requires that we will bring more production, yes, but to complete that and honor that agreement, we should kickstart what is mentioned in that agreement, which is that we have to extend it. again, the extension could move lots of people from their comfort zone. but it is also a test for the market. it will be for all those who are participating. annmarie: if the current agreement is not extended, it has no production increase for aug

she's editor in chief of the national in abu dhabi., from the christian science monitor, was born in the united states but has spent much of his career reporting from the uk. with me in the studio, the british political commentator steve richards, who hosts the podcast rock �*n�* roll politics. welcome to you all. "a pandemic of the un—vaccinated". the phrase used by us presidentjoe biden on thursday illustrates a growing frustration among political leaders in countries fortunate enough to have stocks of covid vaccine that this hasn't been the escape hatch from pandemic they'd hoped for. in france, president macron has told the unvaccinated they won't be allowed into restaurants. in the uk, they could be excluded from football stadia. president biden announced that employees of the federal government who decline to be vaccinated will have to wear masks, keep physically distanced from their colleagues and be tested once or twice a week. earlier, he'd praised the republican governor of alabama, kay ivey. she had said, "it's time to start

she's editor in chief of the national in abu dhabi.

abu dhabi says it will not accept the plan to extend the group's agreement to curb production beyondil 2022 and less it is given a higher baseline for its own cuts. meanwhile, the saudi's essay they cannot given to the demand. -- the saudis say they cannot give into the demand. >> [indiscernible] the agreement requires we bring more production, yes, but to honor the agreement, we should kickstart what is mentioned in the agreement, which is we have to extend. >> we are only asking for a fair agreement. uae has lost one third of production capacity. many other countries have been given liberal production. that is totally unfair and unsustainable. paul: tokyo olympics organizers are reportedly leaning toward barring spectators at certain events. it was reported on sunday they will consider the move if japan extends a range of measures to contain covid-19. the report said fans may be also barred from opening and closing ceremonies. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen.

it is owned by an investment arm of the abu dhabi government and it is headquartered in the u.s..he dow jones is reporting that intel is exploring a deal to buy global foundries. >> we do have some breaking news when it comes to production numbers. those shipments are coming in at 76.3 million tons. we are seeing some numbers out for copper as well. when it comes to iron or, we are seeing pretty steady demands off of those june import numbers in china. their fourth-quarter goal output numbers coming through more or less in line with expectations as well. we do have lots more to come on daybreak australia. this is how we are setting up when it comes to this side of trading. all of this as we continue to get investors trying to make up their minds as to where this inflation trajectory is headed. and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crus

they launched the ice futures abu dhabi a few months ago and part of that was, they abandoned the opecsystem. it used to be most of the gcc major gold coast producers will price crude based on destination. if it goes to the u.s., it's a sour crude index. with the launch of the new crude futures, they threw that out. they've got an ambitious plan to boost their domestic output and their exports and recruited atop trading team. so i see them embarking on a new direction and they could potentially or they are becoming a disrupting force to be reckoned with. >> more broadly, you're still more bullish in this move toward the reopening thing as well. what are the big risks here and does it rely on the fact that we continue to see concerns about the pandemic and these variants? john: the pandemic is like a persistent wildcard that after a year and a half, we've learned how to roll with the punches. a headline comes out, a reinfection, the delta virus, and before that is even out that they are set up to deal with it, we are used to adapting and adjusting. but demand recovery seems in place, th

abu dhabi suggesting it wants to be able to pump significantly more oil. don't know how opec is going to resolve that. kailey: we are getting news now from opec that the jmmc meeting has begun, well later than it was initially thought. as for markets in the u.s., volume is light, but we are looking at a seventh consecutive up day for the s&p 500. not a lot of action in the treasury market. a point lower at 1.4 4%. the dollar is weaker for the first day in five after that jobs report, and gold getting a bid. futures still up about 0.4%. guy: let's talk about politics. let's talk about what is happening here in europe. angle a merkel, the german on -- angela merkel, the german chancellor, and the u.k. for the last time as german chancellor. a huge mark of respect that she is going to be meeting the queen. the leaders are setting an optimistic tune for the reopening of travel between the two nations. >> we are reviewing continuously our travel restrictions. we think that in the foreseeable future, those who have received double jabs will then, according to ou

they have to pick up the phone and call abu dhabi and riyadh.. producers are showing no signs of adding more barrels. they threw more money in the ground for a decade. helima croft, thank you. i appreciate it. >>> coming up, the very latest on the massive and global data breach eamon javers is here on just how big this fallout may be and if there is any way to stop all of the cyber crime that is going on lately >>> dow tus e wnfureardo 1 we're back after this. >>> it has happened again. more cyber crime it is big. security officials around the world are working to contain the single largest ransomware a attack jbs is behind the strike eamon javers is joining us by phone. what do we know, eamon >> reporter: brian, it hit over the weekend. it was designed to catch people off at the beach and not paying attention. what we know is this attack initially hit keyseya. it hit more than 1 million systems from the attack. that statement revil is looked at as the exaggeration they would not have known how many systems they have gotten into here. they are a

guy: if other dobby is getting -- if abu dhabi is getting more, why shouldn't others get more?ey manage that debate? anthony: i think that is the question the saudis wanted to avoid because that is a big issue for the group. some had been overproducing for a number of months. they might want a higher quota. they might point to their higher reserves. but there are a lot of other members in this wider group. they are even having difficulty meeting the quota. they are also having lots of trouble keeping production up and some other countries like mexico that are in the group, but not really doing much on production. so it is an issue that other countries can't really produce. you might see the russians wanting to produce more. the saudis have a lot of spare capacity. alix: one more point on the uae, they've expanded production so much and they are a low-cost producer, and they just need less of an oil price, akin to russia. i wonder the impetus for this opec+ agreement to continue, and at some point, if that blows open who is going to help manage this market. anthony: a lot of tha

many of its leaders including the conference of abu dhabi, he is also friendly with the current ambassadorsy of the uae to washington and deep ties throughout the middle east. this indictment cuts to the heart of the business that tom barrack has built on the strength of relationships in that part of the world. when he ran the company from 1991 to earlier this year, he repeatedly went to investors in qatar and the uae and saudi arabia to fund his investments and now that he is starting a new investment business which i talked to him about this last week, he was also counting on the mri to use as major financial backers as well as the qatari's and saturdays. shery: now that he has been charged, what could be the repercussions for him and his business? erik: if charges are proven, if he is found guilty of functioning as an illegal lobbyist for a foreign government, it is probably somewhat careless for his business. not necessarily because his friends in the middle east would abandon him, but because the nature of the business he was trying to start is one that depended on being able to gain a

abu dhabi, the uae, has invested a load of new kit, a load of new capacity.g that they are turning up and going we want to use this stuff? christyan: it is not surprising. you have seen this before. countries put dollars in. they request a portion it -- a proportionate increase in their quotas. this is a long time in the making. arguably, saudi is blindsided by this somewhat, and the two parties have to sort of come back and discuss what is needed. but the reality is i think up at members are probably relieved by uae's additional investment because on the flipside, we are seeing real strains of spare capacity across countries like nigeria, iran, potentially russia, so in some ways, with uae investing and adding capacity, there is a sort of compensatory increase that is needed. -- sort of commensurate increase that is needed. the market is now drawing parallels to the previous crisis, which was so different in terms of the demand outlook, and terms of how they work going to agree to quotas, and an unprecedented collapse in demand for crude. taylor: how are you

harold, i've got his itinerary so far, he's been to london, brussels, and paris, went to shanghai, abu dhabi north africa, london again, moscow, that's more than the city's emissions that he just cut out the jet flights. do you really think the chinese envies middle eastern oil kingdoms are going to listen to john kerry and stop fossil fuels? he's just in it for the luxury travel. if you want to stop climate change you don't fight climate change, if it's getting warmer you adapt to it. let's just say, the sea levels rise a couple inches over the next century, harold. okay? a great civilization we have here, i think we can adapt to that, the netherlands, 25% below sea level are like a powerhouse in europe, they didn't just destroy their economy to fight the rise of the sea levels are there, they built reservoirs and adjusted around the coastline and they are fine, they didn't have to break the bank to do it. >> harold: dagen, do you have an opinion on this? >> dagen: america is awesome and we aren't the problem. because of the hydraulic fracturing boom, the use of natural gas which by the way

he has wealth, and everyone in his life is going to be there, they think he won't find a way to abu dhabi or riyadh, in the meantime, to avoid the reach of the u.s. courts. but as we await that monday court hearing in his case. here's something else to watch for when it comes to this prosecution of trump's inaugural chairman. you may remember that the day after barrack was arrested, nbc reported that several of the prosecutors who brought chargers, for some reason, prosecutors sat on those charges for a very long time, before this week's indictment finally went to head. according to cnn's reporting, prosecutors had enough evidence to bring charges against tom barrack last year, but they held off until trump was out of a office. and the new administration was in place. two sources tell the u.s. attorney in brooklyn at the time, which are donahue expressed misgivings about the case. it's unclear if you delay the case outright or if prosecutors chose not to move forward at the time knowing the u.s. attorney would not support it. he was then subsequently promoted by attorney general bill barr

say that at one point the emirates were pushing a particular person for the ambassadororship in abu dhabi was trying to promote that person with the administration. we did get a statement from tom barrack's spokesperson who says, quote, from barrack has made himself voluntarily available to investigators from the outset, he is not guilty and he will be pleading not guilty. >> two others were charged with tom barrack. what do we know about them? >> one of them works in barrack's company. the other one according to prosecutors fled. he's an emirate who is also charged in this case. according to prosecutors he fled after he was interviewed by the fbi in 2018. he has not returned to this country. so one of the things that the prosecutors are pointing out is that barrack has all these international ties, and perhaps because of this presents a flight risk. >> all right, interesting, evan perez, thanks so much. let's talk more about this with elie honig. according to the charges tom barrack had a dedicated cell phone with a secure message app with the purpose for communicating with senior uae of

what would abu dhabi actually accept?y indication as to where a compromise could be found, if at all? that is the critical question we are trying to figure out. it is a fairly big numbers. is there some middle ground can be found here, and do we know roughly where that number might be at this stage? will: i'm not sure the compromise is going to be found there because it is a complicated decision about where you pitch it. i think there were two parts to the deal on the table yesterday. one was to limit production till the end of the year. the other was to extend the whole agreement signed off in april for another six months. the saudis really saw that agreement as a balanced deal. they get the extension of the whole opec-plus agreement, and the russians get this decision to put more into the market than they would like. the uae is concerned about the extension part because that would nail down their baseline for another six months, so if the saudis -- from what we hear, they are pretty adamant that they want to do this. of

many of which are green, or at least pretending to be the, the 1st was a carbon neutral city in abu dhabi, which was supposed to be completed by 2014 the then came the financial crisis. and the completion date was shifted to 2030 but except for the buildings designed by architects or norman foster, they're still little to see. the problem is that these utopia tarnish quickly as spanish architect be sent there. i was in my star and my studies over this was a good idea in the year 2008. and they have a plan to do a c, d, w. in fact, very expensive because he was elevated on up all the on the same way that these, the line is how the avia it will not be done because it's impossible to do. city that has a huge underwriting infrastructure. quite yard is planning his version of smart cities in the hills near barcelona rather than transfer motor vehicles into tunnel . his plan is to avoid them in the architect has just want to pay for a new self sufficient city near beijing, a recycling energy production and food production will all be taken care of within the city limits lose, our city should ab

you know, he won't find a way to riyadh or abu dhabi in the meantime so as to avoid the reach of the u.s. courts. but as we await that monday court hearing in his case, here is something else to watch for when it comes to this prosecution of president trump's inaugural chairman. you may remember that the day after barrack was arrested, cnn reported that the federal prosecutors who brought the seven felony charges against barrack for some reason according to cnn, prosecutors sat on those charges for a very long time before this week's indictment finally went ahead. according to cnn's reporting, the prosecutors had enough evidence to bring charges against tom barrack last year but they held off until trump was out of office and a new administration was in place. quote, two sources tell cnn the u.s. attorney in brooklyn at the time, richard donahue, expressioned misgivings about the case. it is unclear if he delayed the case outright or if prosecutors chose not to move forward knowing the u.s. attorney, mr. donahue, would not support it. he was then subsequently appointed by then-attorn

maybe dobby and riyadh -- abu dhabi and riyadh. also an inflationary shock to the global economy.articipants in the market. >> market guidance is crucial. if we went to -- if we want to make sure opec-plus becomes nothing different than a central bank, market guidance, than a stretch period is crucial. haslinda: let's ring in the global head of commodities research at citigroup. we know it is late in new york. this oil deal pretty much calibrated and unexpected. we had oil easing in anticipation of the deal. does it move the needle? >> it should not move the needle. everybody expected this outcome in one or another variant. there is no surprise. the market does what it does in the short run. it does not mean very much. underneath it all, there are forces at work holding in different directions. on the holder, this is a tight market. we saw inventories dropping by through -- by $3 million a day last month. we have demand significantly higher despite the covid pandemic exploding in parts of the world with the delta variant. still, we get to august and we love may be a million and a

we just opened up a new airline based in abu dhabi, and we have a u.k.line, and we are wanting to grow the business. we have invested in new markets, six new operating basis. we have a quite expensive portfolio. -- expansive portfolio. anna: can i ask about hunger term trends you expect to see? maybe you have seen an uptick in people visiting family and friends, as people have not been able to in such a long time. there is that element. there has been an uptick in leisure travel as well am a people making the most of renewed freedoms. what do you expect larger term as we emerge from the pandemic? with more concern around the environment, do you expect leisure travel and business travel to be hit by reduced appetite for that kind of activity? jozsef: i think it will fully recover. mobility is important. the word is -- the world is going to move on from this event. the same thing happened in 2001. if it takes time to recover, i think this business will be the last one to recover. it is not the underlying demand. it is much more the government imposing rest

conversation i had with him last week, he referred to mohamed inside -- he referred to the crown prince of abu dhabione of the greatest leaders the world has ever had. the degree to which he is friendly with them and is willing to complement them is quite obvious there. shery: it is very striking. the indictment does not make it clear what the motivation was in that case. is it personal? is it personal business interests? erik: one can only jump to conclusions without any evidence to back them up but those conclusions would be just that. that it was for the sake of personal business and ongoing relationships which fuel that business. for decades, ever since he started his capital company and possibly before, tom barrack has been able to tap middle eastern sovereign and family wealth to fund his investments and as we all will know, when you do business with people over the course of decades, those business relationships turn into friendships and sometimes, it is very hard to distinguish between the two. the lines get blurred. i am almost certain, having spent as much time with tom barrack as i have o

you had that island in abu dhabi as well that sort of kept you guys going there are you back to full schedule and the viewer ship? >> i think that is a question for dana >> i think that is a question for dana >> all right i think he's right go ahead >> yeah, we're back to 100%. we have been for a while we put on 41 events in 2020. so we started doing live events in jacksonville a few months ago, sold out, houston, arizona and now this weekend las vegas >> we know his voice is crackling because he's been up tickets sold out having to figure out seating it has been kind of crazy on day that >> why is figuring out seating been crazy >> seating is the worst part of this business. i hated it 20 years ago and i still hate it today. every weekend is like a wedding. where you are trying to see the people no matter where you seat them, they are not happy with their seats. and we have more celebrities coming to this event than any other event in the history of the company. >> it is crazy this weekend. >> it is >> and let's talk ufc and then i'll talk to ari with a lot of other things in readin

over the weekend, the energy ministers from post-abu dhabi and riyadh talking to bloomberg.ce until the end of this agreement. that is our commitment. but until then, we demand to discuss and have the time to discuss and put our grievance in front of the group. >> an agreement requires that we bring more production, but to complete honoring the agreement, we should kickstart with that agreement which means we have to extend. dani: the view from both set --guy: the view from both sides. they are really making it clear where their positions are. let's get a take on how the oil market is dealing with this. julian lee joining us. let's focus on the potential outcomes here and how the oil market should be thinking about it. we've basically got an oil price that is fairly stable. no one knows quite which way to jump. what is your assessment of the price of oil? julian: i think the market is really struggling at the moment because things could go in any direction. if we get an agreement, it looks like we will be getting 400,000 barrels a day more in august and september, and go on

into the jack ma h&a category and then all comes to ruse if you are trying to do conferences in abu dhabissault and a form of political terrorism the good news for the united states, this is a good sign the chinese might not be able to catch up with us. >> the journal has a little different take investors like the additional risk because of that potential here is a quote. beijing's habitual regulatory ambiguity explains why didipushed ahead a wink and a nudge, for whatever reason this time, they worried about privacy and sharing data the cold war ramped up and they decided to throw down the gauntlet on this >> i actually think they are wrong on this situation. somebody like jack ma can disappear. they are signaling the cold peace. i find it hard to believe they would wink and nudge that. >> this is a 5 to 10-year thing. there is instability going on unless you are a company like apple but then you have tim cook doing the john seena apology this is political stuff but very good news for the united states kind of restructuring in the us was bipartisan i think the chinese are really mishandl

also gotten, by the way, david, a new oil contract called the merban that they need to promote in abu dhabiontract you need more barrels. the uae says being look, we agree we need more oil on the market and why do they need to do this extension until the end of next year let's split the two apart and do the agreement to add more barrels and figure out the timeline a bit later on. well, for the other part of the story, of course, opec led by saudi industry minister, he says, no, the longer deal is necessary because the world may not be out of the woods yet with new lockdowns and global demands still being a bit shaky. he wants to make sure opec doesn't overproduce and send markets crashing globally again like they did last year. by the way, one reason that oil is lower right now is fear that the uae might leave opec small chance but not zero, guys. that could splinter the group and kind of create an every country for itself mentality and bin salman is trying to keep opec together. here's the bottom line spoke with both sides extensively all weekend. cramer was in the rain and i was on the ph

globalfoundries is owned by mubadala, an investment arm of the abu dhabi government it is based in the.s i usually have something to share with people, some insight, some senses to the likelihood of the transaction. i got nothing. unfortunately here not picking much of anything up from the typical group of people, at least that i would go to who have obviously advised intel in the past. pat gelsinger did a lot of acquisitions at vm ware, we know that, tucked in some larger ones certainly it's not hard to imagine they would be considering something like that. the only pause i would give it is a, i have no reporting on it. doesn't mean much, but b, you do wonder about antitrust, not here where our companies are being encouraged to increase their domestic capacity, although global foundries obviously is not based here or a lot of their foundries are not based here >> the actual facilities. >> and then the question becomes china, and china antitrust because that would obviously be a key here and it gets back to the heightening tensions between our two countries in so many ways people have

outside like the united states was literally running its foreign policy in the middle east through abu dhabiry close to the president were taking money and boasting about their capacity to get emirati influence into american foreign policy. we also know barrack was not the only one quite close to gulf officials. people like jared kushner were spending a lot of time with the gulf royal families too. so i think this is the beginning of a process of understanding what kind of influence campaign might have informed trump's foreign policy. i think what has to be determined is how frequently and who was violating the law in that effort. >> matt, i'm going to come back to ben's idea of a wish list but first i want to underscore how unusual all of this is. listen to this from the indictment on the aftermath of trump's may 26th speech. official 4 also emailed barrack congrats on the great job today. official 2 and everybody here are happy with the results. matt, how unusual is this for a political campaign, for an outsider to insert language into a major speech. and might i say with someone who's not

the win comes nearly six months after beating mcgregor in abu dhabi.d out on a stretcher. he broke his leg in the middle of the fight. >>> richard branson journey into space is being delayed. the blast is being delayed 90 minutes due to weather in new mexico. the virgin galactic founder hopes to be the first billionaire to make the journey. he thanks elon musk for being is friend and typically supportive. pete: how i describe you. will: her daughter has been glued to the, i would follow him around like a puppy before the trip. weather forcing delay in new mexico. the launch is scheduled for 10:30 eastern. those are the headlines. pete: you're a good friend. what a compliment. viral video shows a kid throwing and ripping american flag to the ground while the adult sits and watches. the shocking act against old glory coming up. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ there's an america we build and one we explore. one that's been paved and one that's forever wild. but freedom means you don't have to choose just one adventure.