so let's get straight to one of our best guests bob dudley boss of bp. bob, always a pleasure speaking to you let's get straight to these comments you made to the congress just a few moments ago gee. it echoed something that you said to me just down the hallway in october, and that is that you think the market is already in some form of balance as well we hear a lot of people saying about the balance in the market saying it's not quite there yet. what do you believe it is in balance? >> i think uses the word balance and they forget different tla it means different things to different people to me it means on a daily basis production and demand is equal so the market is in balance, but inventory level is so high so we'll see where the stock levels go. you can't do it weekly, which is what the market is doing particularly focusing on the u.s. inventory levels, but this is a longer term gain. >> why can is it so many of the statisticians, maybe even bp, are getting it wrong when we get to a firmer level in the markets, when the inventories are down and opec

trading well below its $17 ipo price >>> oil prices rising on drop of inventory data would be d bob dudley's call on crude is next stay tuned you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids. and these guys. him. ah. oh hello- that lady. these houses! yes, yes and yes. and don't forget about them. uh huh. sure. still yes! you can get it too. welcome to the party. introducing gig-speed internet from xfinity. finally, gig for your neighborhood too. >>> women coelcome back. let's get you up to speed with the market action. oil prices rebounded yesterday on better inventory data rebounding again today extending that to 45.8 on on wti crude up the best part of 2% an sticking on the topic of oil, let's get to istanbul where steve sedgwick has just spoken to a very important guest. >> reporter: yes, we just spoke to bob dudley who of course is the boss of one of the largest energy companies on the planet, bp and he will make some very interesting comments at the world patrol

bob dudley disappointed some people i think their number will come down >> yeah, break evens is obviously the key. it has to be below 60 obviously for investors to stay hold if they can debt gown to 60 or below, even better >> all right ian, thank you very much for joining us always a pleasure. don't forget we have mr. van beurden tomorrow and we'll be back after a short break. >>> i'm steve sedgwick european autos in top gear lifted by results from daimler and psa with shares of the french carmaker topping the cac. >>> unicredit suffering a data hack sending shares lower. >>> return to battle senator republicans vote to reignite debate on ending obamacare as senator john mccain dramatically reappears following brain surgery. >> we've been spinning our wheels because we keep trying to find a way to win without help from across the aisle. we're getting nothing done, my friends, we're getting nothing done >> the pound is on a bit of a move seeing euro selling. so looking for these figures and we have them up exactly in line with expectations before 1.3% increase yearly figure of growth of 1

there was the full attachÉ and the position in of a dotty took and -- the kuwait position in bob dudleyook on covering kuwait as well. i was responsible for the gcc minus saudis. an at thet, there was shea placed in delhi responsible for qatar and kuwait, which was -- there was an active shea ha, responsible for qatar and kuwait, which was something that i pushed for. it was a lot of travel over a couple of years. i always -- the one doha i always liked because you land technically before you took off. [laughter] a 45 minutet is flight. the ability to visit counterparts and to concentrate on very technical issues. and i would say throughout the gulf we have had very good relationships with our counterparts in finance ministries and central banks. those really connect on technical levels. the attaches work on policy matters, implementation, promoting best practices, standards. in the gulf, there is a little technical assistance as well, though that is done more so elsewhere where you have more resource countries where the treasury would commit more resources than technical assistance, th

boesler: i am not quite sure if we are there yet but with no key people, the new york fed president bob dudley that framework in mind. that has to that framework in mind. if we have strong data especially a pickup and no tightening vendettas something that might come into play. david: another thing is what they say about the balance sheets and we have indication they are thinking about a plan, putting up a graphic that shows the yellow line is the sides of the s&pand the white is and they seem to go together. what to do we expect to hear? matt boesler: the interesting thing about the balance sheet, it was presumed they would want to get at least two more rate after thatis year march rate hike and they did earlier in the year before they started the balance sheet process. ,ince they did the january hike it seems like there has been a shift toward maybe we do not need that the second one in and maybe we are well underway with a rate of normalization and we felt comfortable with the balance sheet. you have heard the fed officials talk about how it looks like there will not be much of a market rea