difficult for the market and really would push prices up if there are disruptions that thank you christopher haynes energy aspects in london thanks very much. to south africa now where foreign investors unloaded nearly $10000000000.00 u.s. dollars worth of south african stocks and bonds last year the largest selloff in over a decade president cyril ramaphosa has failed to jumpstart the economy after 2 years in office indications are mounting that the country is sliding into a recession and it could lose its last investment grade credit rating in a matter of weeks. many south africans were buoyant at new year's celebrations in cape town. 29000 was an experience but i expect 2020 to be much better and i have high expectations for 20 twenty's. but investors have other expectations and are bracing for another kind of a bang in february. south africa already has a junk rating at fitch is and standard and poor's and moody's mode its outlook to negative at its last review sparking fears the country will be relegated to junk status at the next rating in february the world bank has lowered its growth foreca

now earlier we spoke to christopher haynes a crude analyst from energy aspects in london we asked to friday's shock to oil markets was just a fleeting scare or something more concerning. i think one of the biggest things here is that the playground where all this is happening is in southern iraq that's a very big oil producing region you've got about 33 and a half 1000000 barrels a day of or come out of there so any kind of threat to any disruption in the future is going to be a real problem and i think one of the challenges now is trying to understand when iran might might react to what they might do. let's go now to our financial correspondent in new york ian's korda. yens good to see you almost 4 percent spike in oil prices today can you help us put that in some sort of perspective. you know well times have changed so if you look back 10 years for example with incidents like today or yesterday we probably would have seen the oil price spike by at least 10 percent or so but by now the united states actually is the biggest oil producer in the world and sold there for at least the un

well earlier i a askd christopher haynes of energy aspectss y. all those geopolitical developments haveuch an immediate impact on oil prices. you've got such a big risk because you have a large amount of oil supply club always supply. in the middle east- you know about 25230% of global oil and even more. of global exports come from that regigion so a any kind of disruptition. or any kind of impacts on not supply is really going to cause a spike in your price. no foreign oil workers have already begun leaving iraq. lawmakers there have also voted to expel u. s. troops official seem to say that won't actually affect iraqi el. oil output does that seem realistic to you. so i think in the short term yes- you've got train stuff that will be able to man the or films will be have the produce- at current rates. i think one of the impacts is going to be longer time- if you don't have the expertise to- con to keep re trailing the failed to keep produduction hig- and develop more. about production for production growth in in the country then that's going to have a bigger impact site- i think the i