the iea was honing in on the fact that it sees the variant impacting mostly jet fuel demand.demand was the big question mark and was previously seen to be surging in 2022. jet fuel demand was supposed to make up a lot of the increase in demand in the coming years. if we see jet fuel demand suppressed, that is not an insignificant issue, though perhaps not as great as was previously feared, especially on the black friday oil drop in november. caroline: going back to the supply side, and yourself a historian, a scholar in the energy markets and in the middle east, talks seem to be not going anywhere between western leaders and iran. what was the supply going into 2022? that was a hit on oil prices a month ago. ellen: iran is a question mark in terms of supply. they came out with a budget for the following year. they definitely seemed pretty optimistic about their ability to export more oil, however that doesn't necessarily seem to be reflected in the progress of the negotiations between the u.s. and iran. we have seen some reports recently that the u.s. is trying to crack down

ah, i mean it up, but they get up up in the beef with iea. bye. up up from the you know, oh i see little but bobby this, you know what i have initial net is good. i mean up on that old annella. you know what i mean bottled ah, let them on didn't some i know, but the i don't, i mean if you're, you know, what i me say ali. but the only saw they, it's about all the mom and he thought, ah, they had all been, i'm playing up with that issue. and i mean with adults civilian is dependent on but in gay captain, it's an administrative position. the sort of district and the captain is one of the buyers of the divers gold. the problem is this kind of mining by individuals is forbidden. but there are workarounds, commercial plays or operations emitted. so prospectors formed cartels to look like a big company in the eyes of the law. the captain thinks it's better to buy the gold rather than constantly send the police to drive the diggers away. ah, oh it all got hit. i thought holy moly and they did the bubbling up a belly kumato gusio, unless you lucky tongue,

if not, then up iea papa. but they bought a little. but abby, this is what i now, briscoe medicine. i mean, up on that old manila, you know what i mean battle with amanda and i know but the dead now don't, i mean being that if you're, you know what i me say loudly. but he only saw me. it's about all the mom and he thought that they had on the playground. that was, that is gonna be with and also is dependent on but in gay captain, it's an administrative position, the sort of district. and the captain is one of the buyers of the divers gold. the problem is this kind of mining by individuals is forbidden. but there are workarounds, commercial place or operations are permitted. so prospect has formed cartels to look like a big company in the eyes of the law. the captain thinks it's better to buy the gold rather than constantly send the police to drive the diggers away. ah, oh it all got hit. ah, i thought holy moly! and 80 day bubbling up a molecule, martha garcia will ashlyn. lucky keep on the bumper on knuckle, meet that at my window, yom, but on the line, the marketing up my media au

with slave they may make oh ah no not, but they get up up in the beef is not enough iea papa from the, you know, or she little. but bobby, i you know, what i mean? british go, there is genevine, opened the door manila. you know what i mean, bowed. ah, if a man didn't some i know, but i don't, i mean, if you're, you know what i me say loudly. but he only saw me bits about all the mom and the thought they had on the playground. that was an issue. and i mean, ah, ah, okay, apologies for interrupting our regular programming. we said we might do this because today they may, putin will be making his 2nd trip abroad since the pandemic began. he said he to india, which has sir, strong, historical, strategic partnership relations with russia. the to foreign ministers of those nations have met sagal of rob is now briefing the media inexplicably stood in front of some shelves. let's listen it for mill tree technical corporation. and there was a very useful exchange of opinions, and this meeting will continue to morrow. it would be at the same time that we've all so prepared that 2 plus to meetin

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i think the opec, iea forecast won out as we saw this correction.are not panicking quite as much about the potential effects of omicron, but oil is not surging as a result. there was some correction that was needed. amanda: this might have been a different meeting without omicron, but with the release from the strategic petroleum reserves, so do the two meet in the middle, would we have seen a different number if it was just above the spr? ellen: i think the scare over omicron provided opec with cover to be able to do whatever they wanted to do without looking like they were acting in response politically to the spr release. the biden administration came out and they said that they approved with opec's decision. remember, just because they have approved an increase of 400,000 barrels a day doesn't mean that all of that oil will be out on the market. only certain producers have the capacity to increase. i would not be surprise if we do not see quite the increase that they are calling for. matt: you have a copy of your book behind you -- i was going t

. > in just a few ho urs,jurors will meresu lideberations r afteeyth rnretu omfr iea brf holiday break today. torr, owit will mark day 5 of de lirabetions and despe ita rdict, the process is lily raising so meconcerns fothr e prosecutor >>that means they are talking, th m ay trying to rocompmi seon rtain tscoun, eyth y ma be throwing out rtceain coun. ts u yodon't want to delay. you want them to co me back soon. >> cifang up to 20 years if coicd teon alunl cots. >> tonit ghfamily members e ar keepin eithr pehos up as arsech and reuesc teams couentin to lo okfor a missing r skiein the rasier. the sheriff yssa she went ssmiing ilwhe sk iingat north staror rest on chstrimas. -- s hifriends porerted him inmissg. he is an average skier, he owns a ski shop near the resort. th ey haeeve bn battling heavy snow. the sheriff is asking for lphe o r anyone whmaofy seen him. >>> d anon the orstm watch nigh t, cara nssays highway 50is now open from point view to meyers. they say both westbound and eastd boun lanes are open. chnsai will be reedquir f orall cars traveling on the hiwaghy. crewres we bu

they submit on you being a you all dominant, but they did enough iea by hulu. ah, helping my middle now. i own my heat up my lap and i had a new knuckle out. bob again thought, no, well, i'm going up there to be a well, i mean i have to be collation spoke with donia nick long. i didn't get that and you were to, there was bank your eyes and your post yet that it would stop you from having real friends and finding a girlfriend. but what they fail to mention is that you can make thousands of dollars every weekend by simply playing video games with a couple of them that we wanted to push in to was fully with georgia resume with no clinicals to make video games a high paying job you have to be gifted and quick witted. i'm going to open with life to close to listening fitness to listening. bottom in this sounds like you, we wish you the media board number up with the booth, but even established yet globally, when you mo, stormy. and i will do it.

the iea also said that it�*s lowering its forecast for oil demand by 100,000 barrels per day for nextabout $73. apple is now requiring all customers and employees to wear masks at all its us retail stores. the move follows another surge in coronavirus cases in the us. previously apple only required masks in stores within regions that required them. new rules requiring people to have covid passports to enter nightclubs in england come into force today. the rules affect indoor venues holding more than 500 people and outdoor venues with a capacity of more than 4,000. people will need an nhs covid pass or negative lateral flow test to enter. the night time industries association said it comes at the worst possible time, with the pre—christmas period "absolutely crucial" for the sector and will have a "devastating impact". joining me now is michael kill, ceo of ntia, trade body of nightclubs, bars, music and entertainment venues representing 1,200 venues. many thanks for joining many thanks forjoining me here on the programme this morning. what will the introduction of covid passes mean fo

as the oil investors and markets way up the impacts of omicron on the drag on travel, the iea saying there is a surplus on the oil markets. let's get the bloomberg business flash with laura wright heard laura: inditex has reported recognize, buoyed by online sales. earnings -- the owner of zahra more than tripled to 2.39 billion euros in the nine-month door to october, in line with estimates. sales in the first weeks of the company's fourth quarter were 10% higher than the same oeriod in 2019. bloomberg has learned that the biden administration is considering fresh sanctions on china's biggest chipmaker. sources say smic will be discussed at the national security council meeting on thursday. tighter rules on smic would severely limit the ability of some u.s. funds to sub light geared to the company. toyota is planning to invest $35 billion to supercharge its push into electric vehicles. the carmaker is aiming to roll out 30 new ev models by 2030, by which time it hopes to be selling 3.5 million units a year. the new target is a step up from toyota's previous plans and shows it is ser

plus it is the first day of the fed's two day meeting in the iea oil market report, opec saying the revisedfirst quarter demand but lowered their second and third quarter of next year. plus the u.k. labor market report, chinese retail sales, industrial output, kind of a data dump. it is busy. we will see what the data is from china to see if we will get any readthrough until will the pboc start to loosen a little bit? guy: the emma: wrong story will be a fast -- the omicron story will be a fascinating wrinkle in that narrative given the fact they have taken a very tough approach. we have an omicron case being confirmed. the wildcard is omicron and the impact it will have. central banks coming up. we are mapping those out and have a good idea on the base case. the variant? who knows. alix: exactly, so what you do? that is why you see buying into treasury markets. the front end, which means perhaps there is a line between omicron and what the fed will say and what the fed will do. that all impacting everything. the curve flattening a little bit. off one basis point. that wraps it up for me an

it moved up on the back of the iea report on inventories out of the u.s. kristine: the demand question in relation to omicron and whether we see more widespread lockdowns and how that plays into demand, and very important how we see the opec-plus group responding to that, whether this is something that they see as an urgent enough matter to put in place measures immediately or would it be something that they would be happy to let it play out and sit back for a bit, hold their powder, and see how this all shakes out? for russia specifically, it is a very interesting juncture because it is winter time in europe and it is a crucial supplier of gas and energy to this region, so very much at an advantage there. we are seeing the ruble for instance today creeping higher just ahead of putin's remarks. it really has had quite a run this year. i think it still holds the title of one of the three emerging-market currencies that are up and have held on to gains this year. very much a factor of russia's unique position as far as its role. [indiscernible] tom: ok, we a

again, according to the iea, some of these big new -- the biggest of the new offshore wind turbines couldmuch as we times rare earth elements each. so the entire idea about a transition to something else hinges on this -- these claims that there will be plenty of these critical minerals available and it's just not true and china has a stranglehold on nearly all of these critical minerals which are known as malan tonight, disposing m, neodymium, et cetera. >> jason: it is illuminating at i hope america wakes up and ask the hard questions for the secretary of energy and the rest of the biden administration to lay out how this is going to work. kamala harris couldn't even plug the thing into the car, for goodness sake, let alone lay out national strategy to protect the united states of america. thank you, it was very illuminating, as i said. well, 2021 was hard enough on the country but it was made all the worse by the left's constant meltdowns. victor davis hanson joins us for a look back on this last year. hi, i'm steve and i live in austin, texas. i work as a personal assistant to the own

>>le> t's qut iea live look tside ghrit now. just a few scatd tereershows ound the bay area. remo rn aiis edhead our way and we e ardealing somey vercold co ndioitns. sool cd atth the y baarea's pediaks d the a governmenting ofno sw and we could see more in the neouxt cplg indaysful he isa look at geyser pe. ak mount hamionlt in ntsaa clara. wewi ll se ndit over torrdaen with a look at more snow ovabe pa. it's west of silverado trail. this is not down in napa. th iats inth e llhis actual ly e theast of pana arndou 15 00 et. 's not sticki ngon the adrowaysut b a lit ghdustg inof snomow cing down there. t'les go to ghhi definition doppler and i will show what atoo lks like. there's a not lot falling but a few ershows owshing up here. radar isab le to tell the dierceen beeetwn rain or snow an d u yoget a ffdierent cor lo heme on th ere. just ghlit showers showuping the. it won't last long. we llwi get a brk eafrom any precipitn atioov erthe neewxt f ho urs. you don't ssneceary ilha veto worry t abougeinttg rain e wher you are in the bay areafor the xt couple ofur hos it. do est

. >>> and coal stocks moving higher on a report from the iea that coal-fired power generation could hit a record wo w! when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade. what does a foster kid need from you? to be brave. to show up. for staying connected. the questions they weren't able to ask. show up for the first day of school, the last day at their current address. for the mornings when everything's wrong. for the manicure that makes everything right, for right now. show up, however you can, for the foster kids who need it most— at helpfosterchildren.com >>> welcome back to "power lunch. i'm kristina partsinevelos much like the broader market, the energy sector is doesn't about 1.5% right now with valero energy and phillips 66 you could throw into po

of the idea that iea ahave that.t just gives you back a little bit more of your life ryan curry abc 7 news. and if you need to mail items before the holidays the us postal service is extending hours and even sunday hours right now this monday through next saturday are expected to be the busiest days a spokesperson for usps says it will be the busiest days through like we said monday through next saturday and that today the willow glen post office in san jose will be open from 9:00 to 4:00 and tomorrow and next sunday the san jose main and cupertino post offices will be open from 10 to 2. okay. we are awaiting a special report on the blue origin launch with abc's michael strahan. so please stay with abc 7 news for the liftoff what can i du with less asthma? with dupixent, i can du more....beginners' yoga. namaste... ...surprise parties. aww, you guys. dupixent helps prevent asthma attacks... ...for 3!... ...so i can du more of the things i love. dupixent is not for sudden breathing problems. it's an add-on-treatment f

the iea said that the market was already in surplus though some expect prices to rise next year.minal users can read more about the story in our newsletter. we have pliny more ahead. this is bloomberg. ♪ ♪ yvonne: stresses on china's property sector continuing to mount with bond payments overdue. evergrande being sued for more than $13 billion. rishaad: let's get into the context with a man who has been following this from the get-go, stephen engle. you've been busy. what's the latest? stephen: it should not be a surprise. rishaad: you can't be a virgin twice. stephen: i'm not going there. [laughter] kaisa. you want the latest on that? two coupons were due after a 30 day grace period. they have not received their coupon payments. essentially, they are in default again. this should not come as much of a surprise. right now, we are hitting crunch time as far as liquidity and more maturities that are coming due in january. almost live different maturities as well as coupons coming through. that's a microcosm of the stress that is being felt across the sector. kaisa is the third bigg