vonnie: joining us it in a few minutes is dan yergin.eal in doha is the headline but let's check out the markets. equities and crude oil lower. checking on crude oil, it's down almost seven percentage points for the open yesterday and now down about 3.8%. crude is lower and yields are lower. market.k off in the fx banks are in focus ahead of the open in the u.s. another upside surprise on u.s., this time morgan stanley, up by over 2.5%. the big story is crude oil falling with no agreement to limit oil production at yesterday's meeting in doha. it has had the biggest drop since september on wti. joins us now from d.c.. great to have you with us. , and you canha predict the outcome. is that the chief guide to all of this? >> i think so, it looked like there was a deal. it would be a very loose deal to agree to agreeable production at the end of the day, it was the saudi's and riyadh and the crown prince that laid down that there'll not be any deal even of it's a lose deal if the iranians were not there. what you had was going to be this de

we have brazil and morgan stanley, and particularly we have dan yergin joining us to talk about oil asonnie: get a quick check of the markets.

for more on expectations, let's bring in dan yergin. you just heard this.you agree with our assessment here at the table? >> i think the assessment was interesting because it was a split assessment. i'm in the camp that there will be some kind of loose agreement, doha is not one stop shopping. it's more like a bridge to the future to get to the stabilization. the thing you have to keep in mind the position of these countries. in 2014 opec revenues were about a trillion dollars. last year they were about half a trillion dollars. this year they are on track to be down another 20%. these countries are under tremendous pressure. if they walkway with nothing from do has, it's going to be very costly for all of them and i think that's upper most in their mind. so some kind of loose agreement is probably the most likely outcome. >> jack, you mentioned this idea of side agreements. side agreements maybe. who is in cahoots? when they have these private side deals who is having those deals >> right now i think the key players are russia and saudi arabia. >> are they