one ceo at college they don't care if the price of a barrel of oil goes up to $200 a barrel. they are going to step up production. i say enough, enough of lavishing excessive profits on investors and payouts and buybacks as the american people and the world is watching. oil companies made $80 billion in profits in this year those profits are expected to soar but record profits but it's time to stop up for the good of your country and the good of the world to invest in the media production that we need to respond to vladimir putin and provide some relief for customers not investors and executives. i'm a capitalist and i have no problem with corporations getting a profit. companies have an obligation to go just beyond their shareholders, their customers their communities and their country. no american company should take advantage of the pandemic or vladimir putin's object if. investing those profits in production and innovation that's what they should do invest in customers and it's not just patriotic but it's good for your business as well. right now oil and gas industry is s

do we have to worry about now replacing these barrels, these 180 million barrels, at today's prices?i don't think the administration will replace at these prices or higher most likely. they will wait until oil prices go lower, say, $80 a barrel or $70 a barrel is what i believe they are thinking about if we see those prices again anytime soon. but you know, if we don't refill the reserves, we are in trouble because there are all kinds of other disruptions in the world. houthis are attacking saudi facilities. libya is unstable. if we don't replenish that emergency reserve in the coming years, we'll be even more vulnerable to price spikes when, as they always do, these geopolitical disruptions occur. so one way or the other, filling the spr is going to be a challenge. >> i don't want people to freak out too much at home, right? so we are talking about 180 million barrels. there will still approximate more than 400 million barrels, correct me if my math is wrong there, in the strategic reserves which are also there for things that happen in the united states, right? natural disaster. ot

we export barrels to both france and germany and much more. it takes an average of 10 hours to make one standard 136 liter oak barrel. at the same time, serve. it can be more than a dozen years of barrels of ethyl, and his son's hand-made is worth much. more than factory ones. this is a piece of work and bond those who do everything according to old-fashioned technologies once or twice and have miscalculated now everyone is trying to minimize their costs for storing wine. increasingly, metal or plastic tanks are used, which, of course, has made its own adjustments. in our craft, although the need for our products has not yet disappeared. still, wine should be stored in an oak barrel, and not in a piece of iron. they store wine in a barrel wanted their seals in no other wine cellar, and in this literally legendary cellar, the french king louis xiv called such a king screw this drink was admired by the king of austria-hungary, the frenchman sang to queen victoria of britain. the first. but this wine cellar, according to local legend, once belong

so this is one of the other layers, and, indeed, the same barrel is not only barrel can be cited.y indicative, because, even if he spoke this language, and he does not jump off of this language he keeps saying it. look, this is today's burger. and this is the same barrel that clearly broadcasts not some personal story of its own, but broadcasts something radically, changed in the minds and plans of those on behalf of whom it says all this, listen to the head of diplomacy of the european union, jose barrel, calls on the countries eu members promptly provide kyiv with the weapons it has asked for as ukraine prepares for russia to step up its campaign in the east countries barrel told eu diplomats that a decision must be made within days, not weeks? and look at barrel who doesn't just talk, there are some smeared things. he says no no need on the battlefield. need more weapons. we urgently need more weapons, as quickly as possible and the question arises. this is clearly not him by himself, but he is broadcasting some, or a new plan, or some new, let's say, stage of their plan for us

so anywhere under about a $100.00 a barrel for w t on the u. s. government is going to be a big buyer boil to put it back into the s p o. now the logistic problems that you mentioned are very significant because although the cabins and the storage sites themselves can technically release a little very rapidly, that oil has to move through the u. s. pipeline network through the same pipes as commercial production. and the problem is there are restrictions or limits on how much s p l and you can release and move around that system without disrupting and impacting the compassionately. and so we think that the actual rate of s p release is going to be much lower than the 1000000 barrels a day that's been announced probably closer to $600000.00 barrels a day. do you think, richard? this will change the calculus opec class, which has been resisting, called to increase output. do you think it'll push them to try and increase the scale of their production? if anything, i think it does the opposite. they can point to the fact that the us and others are

after that, barrels of tokay wines end up in endless labyrinths of cellars. a minimum of 2 years, a maximum of 10 years. this is how the hungarians do their takaya, not hurrying, and also, not hurrying, they enjoy it. with the help of modern technology , they can make an ideal container for wine, but the classic oak barrel is still indispensable. after all, in it the wine remains alive, this kind of wine is stored in barrels, which are made by local coopers according to the old rules. our correspondent went to these masters and found out all their secrets in the late thirties of the last century before the outbreak of world war ii in the vicinity. such lived and worked about 70 coopers in 2012 . there are only three of them left. one of them, a the telohotics who worked here were germans in search of a better life. they are in their time. they left germany , first moved to the czech republic and slovakia and then they got to us, looking at them, the locals also began to master this craft. dreame was both the grandfather and the father of attila, it seemed tha

will the administration stop releasing a million barrels a day? >> i will not speak to what we might do in a hypothetical depending on where the market goes. what i will say broadly is of course we would always adjust our strategy to do what is most effective to bring prices down. what i would say about the long term to your question about the long-term i think you heard brian articulate this really well and of course the president spoke to very powerfully today too. which is ultimately it shows dependence on fossil fuel, dependence on foreign oil is not sustainable long-term, best interest of the united states. that is why the president has put forward a really aggressive plan to move us to clean energy sources of energy that we could make here in the united states. to make vehicle batteries in the united states the president feels significant strives for clean energy economy something he ran on and so he is very focused on ensuring or taking the strides for that is actually the long-term solution here. >> the direction google has almost returned

that's 300. 15000000 barrels according to our b. c. capital markets. once the latest release is complete, the nation will have just 70000000 barrels in buffer. the release of $1000000.00 barrels of oil a day over 6 months would make up almost 5 percent of american demand and one percent of global demand. that's why the i a a said last month as much as $3000000.00 barrels a day of russian oil production would be lost because of us sanctions. now biden's announcement us pushed oil prices to settle lower, but they were st. twice the level a year ago. brent crude, the global benchmark for oil prices, hit $139.00 a barrel last month after russia is invasion of ukraine began. the recent rise include prices has led to a jump in gasoline prices in the us with the national average price of a gallon of gas at more than $4.00 up from almost $3.00 a year ago. well, let's discuss all this further with great should bronze cross energy analysts that energy aspects. he joins us from london. richard, very good to have you with us on counting the cost. so we'll present

one ceo even acknowledged that they don't care if the price of a barrel of oil goes to $200 a barrel. they're not going to step up the production. i say: enough. enough of lavishing excessive profits on investors and payouts and buybacks when the american people are watching, the world is watching. u.s. oil companies made nearly $80 billion in profit last year. and this year, those profits are expected to continue to soar. this is a time - not the time to sit on record profits. it's time to step up for the good of your country, the good of the world; to invest in immediate production that we need to respond to vladimir putin; to provide some relief for your customers, not investors and executives. look, i'm a capitalist. i have no problem with corporations turning a good profit. but companies have an obligation that goes beyond just their shareholders: to their customers, their communities, and their country. no american company should take advantage of a pandemic or vladimir putin's actions to enrich themselves at the expense of american families. investing those profits in productio

barrels back.— to have to buy those barrels barrels back. you very much for your _ barrels back. thank you very much for your time - barrels back. thank you very much for your time today. i here in the uk — what's going on in global energy markets will be keenly felt today. millions of households in england, wales and scotland will see their bills for electricity and gas go up by 54% — or around £700 per year — as the cap on what suppliers can charge is raised. our business editor simonjack has more. a pinch and a punch for the first of the month. an old saying that aptly describes the impact of higher energy bills that will hit millions of households like this. construction manager dan cook has had to take on an extra evening job to make ends meet. we are living on a knife edge, we really are. it is very concerning for top not only do i work full time from 8—6 but they have to go out three nights a week to try to be an extra income. it puts immense pressure on our marriage and does as a family. aha, pressure on our marriage and does as a fa

do we have to worry about now replacing these barrels these 180 million barrels at today's prices?r higher. most likely. they will wait until oil prices go lower, say $$80 a barrel or $$70 a barrel if we see those prices any time soon. but, you know, if we don't refill the reserves we're in trouble. because there are all kinds of other disruptions in the world. huty is attacking saudi facilities. libya. if we don't replenish that reserve in the coming years we'll be vulnerable to price spikes when as they always do geopolitical disruptions occur. one way or the other filling the spr is a challenge. >> we're talking about 1,807 million barrels. there will be more than 400 million barrels correct me if the math is wrong there in the strategic reserves, which are there for things happening in the united states, natural disaster, other issues here. are we okay for the time being? >> you know, not really. the -- unfortunately congress -- and this has been a bipartisan problem erica. democrats and republicans have been very irresponsible with the strategic petroleum reserve. it's been so

in 2021 he released 50 million barrels. in march the u.s. joined other countries to release 60 million barrels. this is from cbs. they go on to report that the reserves -- can hurt 714 million barrels of crude according to the energy department. the largest of the four is a 500 acre -- hold roughly 200 -- to give you an idea of how large this is. when was it created? december 1975 when then president gerald ford signed the energy policy and conservation act. introduce the idea of storing reserves in case of an emergency. the idea sat dormant until 1973 when opec -- an oil embargo. policymakers revisited the proposal. this is how it has been used in the past. drawdowns have been relatively rare in its 45 year history. for mr. biden tapped the reserve in 2021 and this year previous president ordered just three emergency drawdowns. 1991, george h bush ordered a drawdown. it was soon after desert storm. 2005 after hurricane katrina. the obama administration released 30 million barrels in 2011 when the war in libya reduced the countries will prod

that's 300. 15000000 barrels according to our b. c. capital markets. once the latest release is complete, the nation will have just 70000000 bows in buffer. the release of $1000000.00 barrels of oil a day over 6 months would make up almost 5 percent of american demand and one percent of global demand. that's why the i a a said last month as much as $3000000.00 barrels a day of russian oil production would be lost because of us sanctions. now biden's announcement us pushed oil prices to settle lower, but they were st. twice the level a year ago. brent crude, the global benchmark for oil prices, hit a $139.00 a barrel last month after russia is invasion of ukraine began. the recent rise include prices has led to a jump in gasoline prices in the us with the national average price of a gallon of gas at more than $4.00 up from almost $3.00 a year ago. well, let's discuss all this further with great should bronze cross energy analysts that energy aspects. he joins us from london. richard, very good to have you with us on counting the cost. so will present bi

about 1.3 million barrels a day.f you look at russian exports in general, they been declining at about one and a half million barrels a day. we think the release is actually offsetting the drop in russian exports. on top of that, we have a list of other things. a losing half a million barrels a day there. any weakening in demand helps to balance the market. it is something the market is trying to solve for, the price hovering around $107. overall, the numbers are 20% down from their extreme but i would say around one million barrels a day, that is what we are serving. anna: you mentioned the spr releases. the u.s. government and other governments coming together to release from the strategic petroleum reserve. is that having a long-term impact on markets? when we cover the announcements of spr releases, a lot of people say it has a short time impact. is it still having an impact now? natasha: definitely having an impact now and throughout the year. the releases will be lasting through about eight months, a million ba

so yes, one is more difficult than the other, and, indeed, the same barrel is not only a barrel, youe many of them, the barrel is really just very indicative, because, even if he spoke this language, and he does not jump off this language . he keeps saying it. look, this is today's boomer and this is the same barrel who is clearly broadcasting not some personal story of his own, but broadcasting something radically, changed in the head and in the plans of those on behalf of whom he says all this, listen european union diplomacy chief josé barrel urges eu member states to promptly provide kiev with the weapons he asked for as ukraine prepares for russia to step up its campaign in the east of the country barrel told eu diplomats that a solution is needed take in days, but weeks? and here is the indigenous caretaker, who does not just talk, there are some smeared things. he says no no need on the battlefield. need more weapons need urgently more weapons, as quickly as possible and the question arises. this is clearly not him by himself, but he is broadcasting some, or a new plan, or som

listen , oak barrels, oak barrels, you think you mixed it. it's strange that the places where fruits grow, where does it grow? i, unfortunately, do not know, and what does it mean that it turns out. hmm oak barrels give calvados a detachment after the distillation of the sitres, the future calvados does not yet have the light, subsequent aging of two to three years in oak packs and betrays the drink with us and this color and novel, which really looks like a cognac is the correct answer. sir. wonderful. indeed, i am now faced with e. here is the effect of wood, namely oak. the fact is that we covered the floors. so, uh, we had a section there, they replaced one with another. we were brought exactly the same parquet article, but it was different. here is the root. he was just white this one is brown, and we were told that this new white one should eventually arrive in two or two months. that is, he smokes it. and that 's what it does through photosynthesis. this is how we look now. i'll check now. i do not know, but it has already begun to tur

irina, you have the right to get the first barrel. i beg. barrel number 82 number 82 irochka let's change places and continue let's go. let's have a bag. stretch out. so i get it, barrel number 27, or i understand sportloto, you and your sister are playing. but you do sports yourself . let's stretch the bag , we're doing number 43, but sometimes i'm constantly on the go in sports with sticks to walk christina's simulator. it 's so great. no, we run, of course, we go in for sports, but it doesn’t always work out like a shortage. you find the time. let's we continue the game. what do you think is the main obstacle on the way to sport number 51. well, apart from maybe time, even laziness, some lack of time, there was a pre-winning situation. and this, friends, means that victory is only one step away from someone. let's change places. ready don't worry, everything will be fine. number 45 number 45 we continue the first round we continue. number 19 won four tickets purchased in the irkutsk region in the krasnodar territory and two in moscow amou

let's pull, barrel number 36 number 36.he russian lotto jackpot has not been drawn today, its prize pool is coming to the next draw. we continue the second round. so let's switch places. now you will hold the bag. i'll get the kegs let's go. yep, so number two. where do they prefer? let's get it, where your younger generation prefer to travel, crimea loves to go down the river in kaluga, go down in boats, go down, go on vacation. number 81 they have some big company or just their own family. yes, just family. older children, who aha number 31, and they invited you with them. here in this one in these alloys we see off and meet them on the shore with tears in our eyes number 46 and grandchildren in full force come to visit you are going. we are going together we are going. if it is winter, then we go to the forest, ride tents, put up number eight, rest endlessly from morning until late, because the tents are heated there and we walk. i have an offer for you . you can scream like this, the kegs are going to be assembled. and

so, you know, as you said, 580000000 barrels. but, you know, it holds 800000000. so, you know, we'd like to see it more full than it is right now actually. but, you know, typically presidents will, you know, order replenishment when prices are low and there's lots of extra stocks on the market. so i expect them to be rushing out the bible now show if they're already the 580000000 barrels, that you might say in the reserves of the us. and you say that it is a gamble. and what 1000000 can be released every day for the next 6 months? what happens at the end of 6 months? if there is no site in end to what's going on in ukraine, there is no sci fi on the war continues. you know, at that point, there's a couple of options. so you as president doesn't have a lot of options in energy policy or, but you know, there's still going to be some oil left and strategic petroleum reserve. i think you'd probably be more cautious about such a big release again. hopefully by that time some of the us, you know, the, some of the, the law jams are stopping us, brought you from increasin

barrels a day in 2020. president biden imposed a moratorium on fossil energy development on federal lands and waters in u.s. energy20 productn and bureaucratic delays. clearly biden administration is creating regulatory environment hurting america's ability to produce oil and gas domestically. what we have seen for several months has been an energy crisis of our own making. finally learned what many of my colleagues and i haveve been sayingon repeatedly in this committee, the only way to guarantee reliable affordable energy for the american people is to utilize resources under the feet of my constituents. instead, the bidenen administration has given into an environmental groups and left our country beholding to foreign autocrats and oil cartel, this is not what american needs. my home state of pennsylvania we have resources required to power our nation and get back to energy dominance. for now, that potential is locked underground. my constituents are left paying higher and higher prices to build our gas t

people have really priced in no russian barrels.t price is getting reeled back just a little bit now. but if europe does decide to do an embargo or stop importing russian energy exports, then that will shoot prices right back up again. kriti: julia, we thank you for your time as always. always on top of the market. as we were speaking to her, we have a 101 handle and wti less than that. this is the worst day for the s&p 500 energy sector since june of 2020. on these risk-off days like today, in theory you would see energy as the only sector higher. the new defensive play, the new inflation hedge. today, certainly not the case. jon: it had a huge run and we have seen that in the canadian markets this year. energy stocks kept climbing. and we've talked about the supply picture tied to russia. we have some recombination of demand concerns and perhaps an overreaction on some of the supply stories. before we get ahead of ourselves here, there are many people expecting oil prices to stay elevated for a period of time. when bank of america

they have a barrel there. maybe someone else made a reservation there.o here no cool, no definitions. way , uh, you see this, you forget that in general the ukraine project appeared in austria. after all, these are the collaborators who were supposed to work. we are in the rear of the tsarist army during the first world war. they came up with this language. well, the russian dialect, which was, well, as it is, there is belarusian, well, little russian, they decided to define it separately and remember there they say how in ukrainian, here is kit well, here and so on. that is, it's a long time ago if they take their own, uh, you can see them figures of culture of the forest ukrainian woman, what did she write, who is our nationality? that is, the project was completed. it was laid down a long time ago, they began to meet it, then they developed it, and the germans picked up the americans and the british. here we see the fruits. here's what came up. you do not think that it really appeared 8 years ago 8 years. she entered a phase where she began to bear fr

a million barrels day. when do you think americans will see the prices go down now?war has pulled essentially two and a half to three million barrels per day off the global market. we know that oil is traded on a global mark. what we're paying in the united states is what every other country is paying as well. the question is how can we all increase the supply to make up for the lost russian barrels of oil so we can stabilize. what the president has done is say we're going to put a million barrels per day back on until the oil and gas industry, some of which have stepped up and said they will increase production. we want more to do that. the estimates are that by the end of the year they will be up to a million barrels additionally per day. this is a bridge to that point. we still need more supply in order to meet the demand if those russian barrels continue to remain off the market which it looks like they will. the number will be announced next week. every citizen is paying ridiculous amount os of the gas pump. >> can you put date on when people will feel relief at

remember, lavrov would say, and i think that's how you remember, yes, his arrival of the barrel, yes, when lavrov did it in general, uh, who is it, when he tried to moralize there somehow, very osa and he was offended. he really got offended. and you understand that he is not a young man. let's just say. e the person who is in charge of diplomacy. he allows himself and this is clearly absolutely visible to his personal somehow. it’s not for nothing that the spaniard is still a insult? yes, he is a personal insult. this is it, yes, he understands what it means, now this is such a revenge, you understand? after all , it is this that is clearly absolutely traceable in his words. i'm not saying 100%, but what 's in his words. there is also. i agree. 100% yes. this also speaks of quality, but the people who have it are both. this is what you understand to fight, go fight. here are all the weapons we have. we give everything. go there die on the battlefield is absolutely a question. they are in gas. do not touch with your paws, among other things, barrel essentially signs that he is not a d

your math is right 1 million barrels a day.ound 1.4 million barrels of russian oil you have the problem with the kazakhstan throw 1 million barrels a day on top of that. demand growth out of lockdowns and you will see china come out of the current covid problem and demand will go higher. supply is not there. you need more than 1 million barrels per day to fill that gap. >> it is hard for viewers to believe, but a lot of russian oil on the high seas a lot of that is destined for the united states. the last ship is supposed to hit port april 15th. jeff, i don't know if you heard, i ran into your roommate from pepp pepperdine he told me to call you jeffe. what a random run-in freshman roommate. i wanted to pass that along. random, but interesting message. >> all right >> he said you wouldn't be upset. he said no he said he hadn't heard it in a while. do that. it's all good. thanks for coming on, jeff a random run-in. >>> on a serious note, the latest from ukraine. the country's president set to address the united nations security

cons more more than 7 billion barrels a year according to the iaea, 3 million barrels could be shoaved the market this month. any additional supply by the biden administration would only replace 1/3 of lost production from russia. it is still better than nothing. keep in mind, russian oil is still on the way to the united states you thought sanctions hit? they did there is a 45-day window where you can secure contracts and according to the information, there are 17 ships on the ocean headed to the united states. last one set to arrive april 15th or 16th right around easter with russian oil. release the spr should start to occur as the last vessel of russian oil reaches the shores of the united states outside of that, we have more going this friday morning. let's see the key stories with seema mody again seema. >>> brian, good morning. amazon workers at the alabama warehouse prepared to reject the union for the second time. it is not official yet hundreds of ballots contested. the vote was called after the nlrb said amazon interfered in the last spring election in a different vote in st

at what distance from the barrel did they not leave the boat 400 m thinks, if closer it can cause suspicion 400 there 400 back, and this is an extra force, what is worrying me for them bagheera, what time to report? okay, i won't interfere. at the moment, nerpa and your fighter have neutralized 19 charges. we will continue tomorrow morning. and if there are a hundred or two of them ivan mikhailovich ducks, in total there are left let's connect my fighters? sergey vladimirovich don’t start teaching yours, and this time and then an extra hustle, there’s no point in the plan of one of the criminals working. yes, grishko who is he who says the six work for a certain cherepanov, but i have never heard of any explosives according to cherepanov, there is, which is not a lot yet, but there is a suspicion that he did not refuse any criminal work, including the chemical waste of the barrel at the bottom of the type that skull last year threw off some kind of poison in the bay to the bottom like this, and here, in short, the order is fattening foreigners adjusted. well, they wrote him down to follow t

s. held 168000000 barrels of oil as of march, and we'll have just 70000000 barrels in buffer. the release of $1000000.00 barrels of oil a day over 6 months would make up almost 5 percent of american demand and one percent of global demand. that's why the i e, a said last month as much as $3000000.00 bowers a day of russian oil production would be lost because of us this hit a $139.00 a bow last month after russia invasion of ukraine began. the recent rise include prices has led to jump in gasoline prices in the u. s. much impact on price is beyond the very short term. well, i think there will be some impact, but it's probably gonna mainly be what you single risk that we see a really haven't fallen immediately off to the start the conflict. so these effects is still building up, and i think they're going to get worse over the next month, will to draw down these kind of rates. and it's not just the u. s. it's advanced economy around the world that are announcing big releases with seeing them use that reserves to it will help to bridge the supply gap created by russia. i think th

traces were found in the water next to the broken barrel. washed barrels take another water test and be extremely careful. all end of connection. if all this rubbish explodes, the devils will happen. anyway, it doesn’t fit in my head if the opening of the forum is on sunday, why shouldn’t the explosion happen on saturday? yes, because on saturday the city's leadership is going to arrange a press tour for journalists and investors around the water area to take water samples with them and prove that all these articles were slander, but if pollution is discovered, well, accordingly, no investment will come out we have only 2 days to clear the barrels and find the saboteurs. quite right. if not for stepanovich, we would not have known anything until now. okay , i'll go report with god. they captains killed stepanych, only they didn't find the body yet, well, or the divers, they happened to be there. and those who mined the barrels were spotted and removed as witnesses , perhaps. it is necessary to look who such look is. the cat looks like us, in

barrel. mr. muncrief was there with the pretty dissipated just stated on december 21, 2021 we can't sustain production alter -- ultralow funding level for $30 a barrel. if that approximately your breakeven point? san i guess, it is. it's slightly higher than that. >> mr. lawler used they don't call with investors a breakeven price. barrel of crude is $41 m a barrl and averaged $35 a barrel between now and 2027. is that accurate? >> the projects we are developing itsts accurate. >> mr. lawler your breakeven price was around $45. barrel for oil that still your breakeven point? >> that sounds about correct yes. >> mr. wirth your breakeven was around $60. barrel to cover capital expenditures and advance. what is the breakeven to cover your costs without that? congresswoman it's about $10 billion yearly and protection of the billion dollars [inaudible] >> ms. watkins yurt company is breaking in 30 barrels is that correct fixed me guess. >> mr. schiff of your breakevent is around $30 a barrel is that c

which is about 100 million barrels per day.t this release is going to release about a million barrels per day, so that's about a one that's about 1. of the global oil market. okay so this is a big deal? yes. so what type of effect will it have? and how soon so it actually already had an effect. so on the on the announcement or global crude oil prices fell by 6% so that's the good news. crude oil prices headed down uh and we will see this as the pump. but the bad news is, this doesn't translate into a huge savings at the pump. my calculation is we should look to for gas prices to go down for by something like 12 cents, maybe a bit more. okay why? why isn't the effect greater than just the 12 cents a gallon decrease. so crude oil prices are the largest component of gasoline prices, but it's not the only component and in california. we face much higher prices than the rest of the united states. and this release is not going to do anything about that, for example. okay so you mentioned the slight little decrease that we might see.

s. alone is about $20000000.00 barrels per day. the total release of $180000000.00 barrels plan to take place over half a year would satisfy just 2 days of global demands. republicans have hit back at buttons, plan disagreeing with the reasoning behind it. house minority leader kevin mccarthy says that while the white house blames russia for the rising prices, it's actually biden who is liable. we heard from an international energy markets expert who foresees are coming response in global fuel prices. when the be yes, time here, release. $50000000.00 barrels last year. it's the global oil market and prices ignore it completely. then in january, the international energy agency also announced the release of 60000000 barrels from the inventor is of the or is see the countries. again, the market was indifferent to them. now president by then is trying his hand again by releasing almost 1000000 barrels a day as it was reported. that might have slight effect on the prices, but it will psychologically and levy the tensions and the tie thi

west african barrels, to replace those russian barrels. becomes, what happens to the russian barrels? they get traded at a discount, likely to somebody like the indians are chinese picking it up. the key point people forgot is that you need the middle east and opec to agree to this because you are going to basically have to crowd out at their market share in places like china and india to replace those barrels in europe, which i think will be a tall order. not easy. >> we know there have been conversations behind closed doors. how likely is it that this happens? how likely is it we can deal with an oil embargo, even if the weather in europe is not that good? >> i think it would be very difficult, which is why they started with coal. if you think about coal, it is the most fungible gas in the least fungible is oil. goal, you put it on ships and move it around the world that it is easy to read distribute. oil becomes more difficult because it is more sophisticated, pipelines, refineries, things of that nature, and then gas is pretty close to

our forecast is we could lose up to 3 million barrels per day.re was the head of the oil market division speaking with danny berger. let's get more on the oil market is now. joining us now from dubai is jeff brown. great to have you. oil markets are caught between two currents right now, whether it is the ukraine war and then the china lockdown story. what do you think will be driving oil prices more? >> you hit the key factors on the head. i would say this is the most policy or -- most policy driven market. we have already seen that over the last day and have. even the u.s. makes it to around. we have two or 3 million barrels per day that can swing these policy levers. if you are trading around this market, you will have to anticipate these headlines. governments will react. naturally, oil pivots right around 100. >> your own shop what do you see as the outlook for russian production moving forward? >> it is a hard number to get a hold of because everyone who is not taking this from the rooftop, everyone is. the fact is we see a much smaller dis

crude oil production was 13.1 million -- thousand -- barrels per day. million barrels per day. yeah, 30, thousand thank you. on january 2022, it is declined to 11.4. so what we've seen in this time's production has gone down, prices have gone up, and what we have seen, particularly since february and the invasion, is that profits have exploded. dividends have been raised, executive compensation is up, and shareholder stock buybacks are up, 41 billion dollars. so the question i have, you know, and i'll start with mr. wirth, is in the boardroom, there can be a decision about the allocation of the resources of the company, putting it into protection to bring it up to pre-pandemic levels, stock buybacks, and dividends. all of these have been increases. has there ever been any discussion about lowering the price at the pump to help folks who are helping to bear the burden of the u.s. and our european allies support for the people of ukraine? >> congressman, i appreciate your concern. we share that concern for americans -- >> i'm not asking about your concern. i know concerted, right

so that the alcohol that will be aged in the barrels does not have the taste of sawdust, the barrel is inside for wine, a weak fire is enough so that the wine then has light fruity notes. well , the barrel for brandy bourbon cognac burns the most. only in this way will they acquire a dense taste with chocolate-smoky notes. however, even in the best barrels, whiskey must be aged for at least 3 years, experts remind, therefore the first strong alcohol completely russian production in sale will appear, alas. not soon, even in the three five-year plans, manufacturers add a certain amount of older ones, so that the traitors still have some taste and, on whiskey, what is written on it for three years. this does not mean that it is a three-year-old one, and therefore, if some new russian brand of whiskey appears much earlier, then it explains the experts or was not in the barrel at all . it is made by semi-accelerated technology, when alcohol insist on oak sawdust, his taste is not noble, the price, a low headache is guaranteed. but here is the main, in the literal sense, plugging of alcoholi

well, friends, let 's mix our barrels and bags thoroughly.ell, we are starting 1436 the circulation of the russian lotto of the first round of the russian lotto is 420,000 rubles. good luck everyone. in the first round, tickets are won in which all five numbers of any horizontal line coincide with the numbers of the barrels taken from the bag. well , natalia. i ask you to get the first keg? 50 number 50 put change places. now i'll get the kegs ready perfectly. yeah number 24 as i understand it, natalia you are like go for life. live in kungur correctly. yes why do you love your city 35 and our city is very beautiful. we have a very beautiful nature, all my relatives are there . attention there was a pre-winning situation. this means that someone is only one step away from victory. let's switch places. i ask you to mix our kegs again, because it makes a response. i'll tell you, only one step separates someone from victory let's continue the first round on number 26 number 26, 28. we are waiting for the winners of the first round so-so-so-so, t

— authorised the release ofi million barrels per- authorised the release ofi million barrels per day-rels per day for the next — million barrels per day for the next six — million barrels per day for the next six months _ million barrels per day for the next six months from - million barrels per day for the next six months from our- next six months from our strategic— next six months from our strategic petroleum - next six months from our. strategic petroleum reserve. pressure _ strategic petroleum reserve. pressure is— strategic petroleum reserve. pressure is also _ strategic petroleum reserve. pressure is also on - strategic petroleum reserve. pressure is also on the - strategic petroleum reserve. . pressure is also on the federal reserve to tame inflation without stifling growth. america's central bank has orally began to raise interest rates and is expected to move aggressively well into next year. of course, the us isn't the only country grappling with this issue right now. inflation is raising the cost of living around the world. it is raising the cost of living around the world

uh, barrels now, but the change in rhetoric is barrels.'s still that it's hmm it's like an attempt, that's it. we, on the other hand, tried to negotiate with the russians in a good way, but not very much with the war, or is he already proceeding from the fact that it’s not working out very well here and therefore we need to move on to another issue, and then the question arises. and that for him the twenty-sixth was not so much that was not on april 9, which, in fact, during these 17 days then it changed, if this is the version in my opinion, this is two. and two europes are two realities that sometimes collide in one head of this respected polar diplomat. and you can say that on the one hand, this approach, which was now cited in the plot, when e blinken said, our goal is to tighten the noose around putin’s neck and the british, the americans have been talking throughout last week, that our task is the military victory of ukraine, the military defeat of russia, but on the other hand, there are very serious debates in europe that this is t

together, our combined efforts will supply well over a million barrels a day.ther to deny putin the ability to weaponise his energy resources against american families and families and democracies around the world. well, earlier i spoke to ellen wald, who is an energy consultant and author and senior fellow at the atlantic council's global energy center. i asked for her thoughts on the split between the west and russia energy policy. well, i definitely think that it is...that this was not out of the cards. i think that this is something that western countries did need to be prepared for and aware of. yes, they do believe that they have a contract, but putin also believes that he had a contract, too, and that their financial sanctions are kind of probably invalidating it. so, really, the issue is kind of who's going to blink first? will they decide that the gas is more important to them, or will they decide that, hey, we're going to take this chance and not pay for the gas in roubles and see what putin does? at a certain level you have to remember that, yes, the

talking about joe biden releasing 1 million barrels of| releasing i million barrels of crude oil eachdoes that mean to the average american? does it really change things for them on a day—to—day basis? really change things for them on a day-to-day basis? that's a really good _ on a day-to-day basis? that's a really good point. _ on a day-to-day basis? that's a really good point. you - on a day-to-day basis? that's a really good point. you have - on a day-to-day basis? that's a really good point. you have to l really good point. you have to remember, crude oil can be released into the system, but it has to be purchased by refineries and then refined into the product that we are using, like gasoline, plastics, jet fuel etc. it's not like it is an immediate fix. it's also not totally an issue of supply and demand. the united states is experiencing a shortage... inaudible. it is intended to relieve short—term shortages, for example during the gulf war, when kuwaiti and iraqi oil was off the market, the spr helped relieve the shortages. similarly if there is a hurricane which takes up prod

in 2021 he released 50 million barrels. in march the u.s. joined other countries to release 60 million barrels. this is from cbs. they go on to report that the reserves -- can hurt 714 million barrels of crude according to the energy department. the largest of the four is a 500 acre -- hold roughly 200 -- to give you an idea of how large this is. when was it created? december 1975 when then president gerald ford signed the energy policy and conservation act. introduce the idea of storing reserves in case of an emergency. the idea sat dormant until 1973 when opec -- an oil embargo. policymakers revisited the proposal. this is how it has been used in the past. drawdowns have been relatively rare in its 45 year history. for mr. biden tapped the reserve in 2021 and this year previous president ordered just three emergency drawdowns. 1991, george h bush ordered a drawdown. it was soon after desert storm. 2005 after hurricane katrina. the obama administration released 30 million barrels in 2011 when the war in libya reduced the countries will prod