contraction in china capped gains according to the iea.he agency now predicts demand will rise by less than 1 million barrels a day this year and in 2025. reaction and analysis to the reports and i'm pleased to say marttin ratz is joining me from morgan stanley. >> it is note worthy the range of demand estimates that exist for 2024 is light. you mentioned the range of estimates and the iea is the lowest in the forecast of 1 million barrels a day of demand growth. the opec secretary with 2.1 million barrels a day. that is spread of 1 million barrel is wider than it has ever been. most have been in the middle. i find both estimates unlikely. the spread is very wide. having said all of that, it is true that the demand growth is decelerating. the recovery with a strong post-covid recovery. the demand of the summer is not living up like a couple months ago which suggested this could be a really strong summer. that is also not quite happening. i would suggest that the iea is more on the right track than opec with the numbers on the whole and dem

we are looking at iea.pec have come out with their expectations and outlook for the oil market what have they been saying? >> opec has been more bullish than iea all year on crude demand, but just yesterday, they came out and pared back their expectations. they are seeing softness coming out of china. they are worried about the possibility of the u.s. economy weakening. and so they are pulling back their forecast for demand. and, you know, even with all of this roller coaster ride, this is something traders will be keeping an eye on, because demand has been, you know, especially in china, which is the world's biggest oil importer, it has been very hard to stay bullish on the economy, which has been struggling. the shift to electric vehicles has pulled wind out of the sails of the gasoline market. we will see the numbers today and people watch to see if there's any sign china might rebound. tom: yeah. absolutely. you are right to point out there has been divergence in terms of the outlook coming through from

, what is the responsibility of the iea, and we are going to assume that responsibilities to make sureuclear accident takes place, so my message in moscow, in st. petersburg, in... what we can do, and i am doing that, i, i'm in close contact with rosatom, with the security and defense forces of the russian federation, with the minister, ministry of foreign affairs, we are suggesting certain technical things which we believe could be useful in terms of avoiding uh the possibility of this, but at the end of the day again, this may sound absolute common sense and very simple, don't attack nuclear power. what measures can be taken to ensure the safety of the nuclear safety regime at the kursk npp, but i want to say again the answer is that the kursk npp is a nuclear facility that is located on the territory of the russian federation, is under the control of the russian federation and is currently in operation. we, as representatives of the iaea, can propose a number of technical steps and measures aimed at maintaining the nuclear regime. rosatom, with representatives of the russian armed f

you flagged opec and the iea revising down the 2024 global demand forecast based on primarily concernsut of china. of course, other issues at play as well. how do you think opecwould respond to potential cease-fire deal for example and offer the downward revisions to the growth outlook coming given the current macroeconomics state of play? >> opec and the market outlook, the one they published in august confirmed the revisions to oil demand were drive n by the economic uncertainty. the uncertainties have not diss dissipated. that said, the downward revisions have been small and the most ambitious and most sang sanguine if you want with 1 million barrels a day difference with the iea is expecting. we are going to watch and see if they will be further downward revisions to the outlook in the coming months. that said, they acknowledge we are heading to the hurricane season and that could disrupt supplies from the u.s. that could justify the increase in some of the cuts which they decided upon for the remainder of this year and more for next year 2025. that decision is not cast in stone an

the iea and opec, despite the divergencies in recent months and this year, both put emphasis on chinang the growth engine for oil demand this year. they might will be both wrong. we will see. but so far the news from china is not terribly encouraging when it comes to the economic growth and implications on oil demand growth. tom: your notes to us, they talk about the iea and opec in their research teams being on different planets when it comes to their outlook. apart from the question of china, when it comes to the u.s., we talk about the economic growth and fundamentals, all sorts of scrutiny in terms of risks around a u.s. recession. are we seeing that playing out in these oil markets, particularly at a time when oil is expected to tick up in the u.s. during the key summer season? >> definitely. you would expect that during the summer because people are traveling more, driving more, to see an uptick in oil demand. we are seeing that but not as strong as we would've expected for this time of the year. what happened to oil markets over the last few days and earlier this week, when oil

to observe the basic principles that the iea and i myself established at the united nations security, namely that under no circumstances nuclear power plant should be attacked, that nuclear power plant should never be militarized and that the nuclear power plant should have all its safety systems active and without any interruption. if we can assure these things, i'm sure we will be fine. how do you see compliance with the safety regime at the npp? answer. well, the first step to compliance with the safety regime at the npp will be the implementation of compliance with the five principles that were formulated by the iaea during a meeting of one of the un security councils. in particular, these principles include the fact that a nuclear power plant should under no circumstances be the target of military action of a military attack. the nuclear power plant cannot be used by any party in the military. pas un groupe d'analystes ou de spéculateurs, nous sommes un inspectorat et pour qu'un inspectorat se prononce, il faut que il puisse avoir des preuves indépendantes de ce qu'on analyse, e

but how do businesses feel abo behind iea?nce william and prince harry would be there. the vicar said he only knew of their presence when they came up to him separately to thank him for the service. members of the congregation said it was wonderful to see both princes together. there is a reported rift between them and they have not been seenin between them and they have not been seen in public for well over a year but if ever there was an occasion they would come together it would probably be this one because lord robert fellowes was a hugely important part of their lives, their uncle, married to the sister of their mother, overhaul of workers�* rights. business groups say any changes have to be carefully thought through. if you do something on the employment rights package that then hits economic growth or then makes it harder to recruit people and keep them in theirjobs, this is a real problem, and the government has to really square that circle, and we want to be talking to the government about how they get to do this righ

the iea is keeping the demanded forecast unchanged, but trimming the outlook for the next year.depot reports at the top of the hour. analysts are expecting another difficult period for the retailer with consumers not spending as much on home projects with inflation rates stul still relatively high. same-store sales are expected to drop down 2% for the sales growth at existing locations. joining me now is jeff kilburg. he is a cnbc contributor. kkm owns home depot. jeff, if you own it, are you worried about what's going to happen today or are you slightly more optimistic? >> dom, i am optimistic. i think the worst is priced in. if you look at home depot, it has been flat on the year. there is technical strength here at $344. when you talk about the tepid growth, i really do think it has been priced in. you talk year over year expectations of 1.6%. however, the flat year over year sales is a concern. i think with interest rates coming back under 4%, maybe home improvement gets an uptick here. it has been a laggard to the s&p 500 one year in and three year in. we saw the boom with

while trump thinks of john mccain as iea loser for actuall serving in vietnam, trump thinks he should get the congressional medal of honor for his service in his personal vietnam. of avoiding stds . that is who jd vance thinks is always being faithful to those who put on the uniform. you don't actually even have to reach into the distant past to see just how much respect or disrespect donald trump has for the military. here is trump roughly 24 hours ago explaining why he thinks the medal, he gave a billionaire conservative donor why he thinks that is better than the highest military award in the country. >> we gave miriam the presidential medal of freedom. that's the highest award you can get as a civilian. it is much better. because everyone gets muthe congressional medal of honor that soldiers, they are either in very bad shape. she gets it and she is healthy. beautiful woman. >> pat representative pat ryan who served two combat tour ins iraq and earned two thank you gentlemen so much for being here. let me start with you congressman ryan. >> my blood pressure, was already high, now

. >> looking at data from the iea.f you look at a google search, it takes .3 watt hours and a chatgpt search takes 2.9 watt hours. we need more energy and does this mean utilities have more upside? >> i think the whole sector has a lot more upside. we're very conservative sector. we are giving you 6% to 7% earnings growth. that growth is not baked into the additional a.i. demand you displayed on the screen. we're going to give you in line s&p type growth trading at discount and 200-basis point better yield in this environment. that a.i. is a great tell with additional demand and help sustain and finance this growth story. >> anthony crowdell, thank you. >> talk care. >>> coming up on "worldwide exchange," the latest historic cht op iheout could mean for t riespelen the world. we wouldn'? [jeff laughs maniacally] (inner monologue) seriously, look at these guys. they are playing great. meanwhile, i'm on the green and all i can think about is all the green i'm spending on 3 kids in college. not to mention the kitchen remo

you remember opec and iea cut the 2024 oil demand global forecast based on that weak chinese data.orld's largest oil consumer. demand concerns clearly outweighing the geopolitical risk, contessa. >> dan murphy in london, thank you for that. >>> let's get a check of the headlines outside of money and business. richard lui is in new york. nice to see you. >> contessa, good morning. great to see you. a week of dangerous and severe weather across the united states, contessa. across the east coast, beaches were closed as ernesto is now a hurricane again. the tropics have a trail of destruction and bermuda and puerto rico dealing with clean up as well. >>> former congress member george santos is expected to bl plead guilty today relating to campaign fraud. he was set to go on trial in less than one month. he pleaded guilty to all chargecha charges. >>> "indiana jones" fedora sells for $630,000. contessa, big money for that hat. >> that's like almost into crown territory. thank you. >>> coming up, grappling with the rapid rise of fear in the markets. a whipsaw action facing sentiment this

there is not one organization in the world, no the even iea, the most bearish, says we're going to use less oil within 10 to 20 years as we are today. even if you want to get rid of it, the reality for crude oil, hate it or not, carter's point. it's not going anywhere. >> no. and yet it's a sector that's seeing the -- seeing the debt. looked over abyss in 2015, 2016, growth at all costs. even exxon had to look several in the mirror. fact of the matter numbers in the second quarter they beat on free cash flow. that's the story. also you said, in terms of where the next barrel of oil is found, it's still very relevant and they're stake in guyana is something, most exciting oil development in the world. they have a lot of optionality there. a big fight possibly going on. between that and the pxd acquisition a lot to like for exxon and look across the sector. about the foundation of free cash flow. the companies are run differently and a handful run as well as ever been run. >> and pioneer national resources deal adding 1.2 million barrel as day production in high premium base. folks about

this after the iea trimmed its 2025 oil outlook on weak china demand. but for the u.s.'port for israel, could geopolitical tensions keep prices moving higher? >>> but let's begin with the shakeup at starbucks, shares having their best day since the ipo 32 years ago. the second best day on record. all of this after news that the ceo is out, with now former chipotlebrian nickel taking his place. he has an incredible track record. for that reason, chipotle shares, selling off as much as 11%, pairing that to about nine right now on his exit. tracking for their worst day since the pandemic in march 2020 on big volume, more than 70 million shares changing hands today, four times the 30-day average of around 18 million. and look at why. chipotle shares are up 800% during his tenure. this goes back to march of 2018. it was all right a great stock going into his taking the helm. look at what he's done since, the best performing s&p company from march of 2018 to now. the pales >>> the palestinian side, it's very different story, shares down 22%. he's only been there for about a ye

mr.er feinstein, i just wanted to say iea. it makes it makes such good sense.it's a contribution to the community and those who want ems work in the future i didn't know about this. i saw, you know, the dusty's, come on, dusty's fishing. well and i said? dusty's fishing. that possibly have to do with the fire department? and resolution and said, this is just it's really it's not just public relations, it's really good public thank the chief for signing off on it and think it's a great idea. great. thank you. motion. yeah. any commissioners? yeah, yeah. you're good. yeah, yeah. i ask one question, i think i read somewhere never used, or. why was that retired. they won't be used. they won't be driven absolutely. all right. i got you. all right. caruso. thank you for the update. yeah, they're though, right, mr. caruso 001, mr. i'm sorry, commissioner nakajo, action item director posner. yes, i so move, to approve this. you entertain ao. i would mr. president, to recommend the board of accept the donations oro, pardon memorgan? pardon me, president morgan, can you

iea the mask into his office.the names judge webster on the far right the beige coat is johnson in a parade the next one is bob gates. the next one is brent's grow croft in court george h.w. i took the president of the folder of pictures of him in disguise. i've neatly done sup withim. i said wait until you see wt we've got now proved he was looking on my chair for a bag and i said i'm wearing it. i'm just going to take off and show to you and he said don't take it off yet. he got up, came over, walked around he'sn' looking for he did not even know what he was looking for, he was just looking hard. he couldn't see anything pretty sat back down and said okay, take it off. so i did that thing, which by the way is called the tom cruise appeal. [laughter] i make modest woman. i'm not going to go after him but it could have another name. i'm holding it up to show him the hair and everything in its light as a feather and folds up into nothing i would not put it under my armpit. i didn't really like that everybody in the

the iea ai company claims i can file claims with no mistakes. >> the long-running eyes and help lower deflationary. and with u.s. health care system, that's 18% of us gdp. we think this is mission critical. >> there are concerns, though, that too i could lead to massive layoffs. to the oakland airport is making some changes. we'll see what it's not going to look like. also, debbie is moving on, but it's leaving some sad stories in its wake. we'll talk to one couple that just lost everything. and when we come back, there are 6 new stores there are now open in the there are now open in the south bay. we'll see how this this is what joint pain looks like. when you keep moving with aleve. (♪♪) just 1 aleve. 12 hours of uninterrupted joint pain relief. aleve. strength to last 12 hours. are 6 new stores now open in downtown san jose. and this is the 3rd time the moment has worked with downtown san jose to help open up some new stores. and right now we're joined by audrey young, the program manager of moment. audrey, thanks for joining us. appreciate your time. so this grand opening was toda

plus, iea here plus, there's a lot of pressure already. this is the first school in alameda county. brand-new in 50 years. the last one was in pleasanton at foothill. all the technology dad is not going to hear any excuses. you have all the bells and whistles. usb. >> charging places, internet, all they need is for to pay attention. we're back to and you look so alike, given side, i think only were that easy. >> lot of districts are starting this morning to name a few others. palo alto unified san ramon valley, unified lafayette and east side union. so happy first day back at school. if it is your first look pretty sunny out there and at 0, it's going to be dublin today, low 80's and there. >> it's just cool to see everyone so excited. i love to talk to the parents to make really examine a great day. yeah, i love the kid, though perfectly. sit on well. oakland actually had their first day back yesterday. that's right. they've got good weather out there again today. so solid start to the school year, at least as far as whether it hopefully in all other ways oakland, you're going to b

political commentator jonathan lis and communications officer for the iea reem ibrahim. okay. good evening. good evening, >> right. yeah here we are. so what do you make of this labour? for years they've been banging on about cronyism and corruption and transparent government. and it turns out that in the years pnor it turns out that in the years prior to them taking government, they've taken half £1 million in donations from unions. i mean, what's that about? >> yes. well, this isn't exactly news. i mean, the labour party was literally established to support the unions, to be funded by the unions and ultimately to bargain on behalf of the unions. so this isn't a surprise . we so this isn't a surprise. we know that they are funded by the unions. but of course, we can draw the conclusion that that is why they are much, much softer with the unions than any other party in government. now, i think when we're having these conversations about public sector pay, public sector pay has to be seen in the context of pubuc has to be seen in the context of public sector spending, our debt

james schneider, broadcaster and tv personality precious muir, and communications officer at the ieaim panel. good evening. hello. thank you. >> hello. how are you? >> hello. how are you? >> yeah. not bad. a bit tired. i've been up since 4 am. second show of the day. >> it's a friday night. show of the day. >> it's a friday night . you need >> it's a friday night. you need a drink? >> quick word on the king first. so he's again. he's spoken out about the riots of the past couple of weeks. he previously asked for an update from the government to what was going on. what do you make of his intervention, reem? >> yeah, i think it's really interesting just from the riots on that perspective, i think that you're absolutely right. everything you said in the monologue specifically about the hypocrisy, there are figures like sadiq khan that are effectively there saying that, you know, they have taxpayer funded security. they are obviously protected and rightfully so . however, there rightfully so. however, there are millions of people across london that have felt unsafe over the last few year

there is so much work that the iea did on this, but effectively they were looking at language like psychological if i decided that what you just said psychologically harmed me entirely subjective, if i decided that i could then take you to court and actually get you prosecuted under this bill, it is absolutely absurd. i'm really quite afraid for the future of freedom in general in this country, but definitely the future of freedom of expression. there's also the point to make. and margaret thatcher spoke about this all the time when she was prime minister, that the best way you get to the best ideasis best way you get to the best ideas is by weeding out the bad ones. and you must have a marketplace of ideas. you must allow people to say the most outrageous things so that we know what outrageous things look like. you have to allow people to say the most grotesque and horrendous things. otherwise, i hope it's not a bad sign. >> but keir just took down her >> but keirjust took down her portrait so yes, well, if that thatis portrait so yes, well, if that that is definitely an anecdote and a microcos

iea have a responsibility. this isn't about awards. that's easy. well, this is about how do we save and empower black people.ou that's what it is about. that's the healing i'm talking about. >> well, how do you do it? [applause] >> you know, how do we do it. i think that's a great question to kind of open it up, just keeping my eye on the time here is that call to action and what that looks like and how that manifests in a community that is not monolithic and that is not static and this is really distinct with its dialects and language and ways of being globally on economic levels, esthetics, politics, religions, all kinds, so we know -- i think there's so many issues and i want to thank each of you for really getting personal, going, you know, i just feel like the wingspan was openng here and we were allowed to really see, you know, just what is at stake and that we could sit here tomorrow and have these questions about healing and have an entirely different conversation that would still be just as relevant and necessary, important and, you know,

but if it did, he would ha used iea that was pretty much his campaign know stand up for the little guy you know against the power structure he was he was at at point he was a lifelong democrat he had made clearly kind of racist statements in 1962, threatening to personally block integration of the university of alabama when when that were to occur in. in his inaugural address, he stood in the same spot where jefferson stood in montgomery and, proclaimed segration today. tomorrow and forever. but by 68, the version here he was really more of a kind huey long inspired kind of southern populist who was trying to develop a national message that would work beyond alabama and beyond the south. and so wallace is fasting. lots of reasons. he ran as a third party in 68 because he wanted to be free to criticize both major, both parties and later becomes a like like millions moats in the south and running mate is curtis lemay, who is criticized as running nina bombs away lemay for his casual suggestion of the use atomic weapons. heas probably most famous for the firebombing of tokyo and other jap

joining us now to discuss is communications officer at the iea. it's harrison griffiths ., very much. can you just explain to us exactly what's going on here then? so we've been giving money to places that are actually wealthier than parts of the uk . wealthier than parts of the uk. >> yeah, you're absolutely right, patrick. i mean, there are some pretty staggering findings in this paper. you've already mentioned beijing, which is as a whole region , richer is as a whole region, richer than four of the regions of the uk, and it goes all the way up to cordova city in china, which is richer than 69 regions. it's got a gdp per capita comparable to swansea. so this is some pretty bizarre upward redistribution of wealth from our government. >> i mean , that sounds quite >> i mean, that sounds quite incredible. so regions where the gdp is a is the same as swansea. that's not exactly what people would think, where people would think that their aid money would be going. but i'm looking at some of the examples you have in your report. projects include an all female traditional chin

i, i think that i mean , so the iea think that i mean, so the iea came out with a paper this week on, international aid budget is actually going to places in the world that are actually wealthier than the uk, some of it not all of it, not all of it. and but some of it does also end up going to corrupt regimes. and this really comes into the point. do we work with these kind of organisations? do we work with these kind of hostile governments in order to help those people, or do we actually draw a red line and completely refuse to work with them at all? |, refuse to work with them at all? i, i don't know. well, i think that's the question. >> and i think, you know, just to go back to the whole point, the wider point about, you know, rising global misogyny and attacks on women's rights, it's not just in afghanistan and iran. look what's happening in america. you know, they're very happy to ban abortion. there and it may well be that kamala harris, you know , she might harris, you know, she might actually do well just on that alone, that women have got the right to have control over their

. >> yes, but in the meantime, she was advocating a policy that even the iea, the institute of economicer ideas are spawned, opposed. >> so boris is both of you. >> so boris is both of you. >> i'll answer that, but i just want to i don't understand this bit. why is this always ignored? this is a crucial part of this. it was a crisis of borrowing. it was going to cost. this was going to cost more than furlough. obviously, if you cut taxes and then whack up spending, what do you think's going to happen? you might as well have let jeremy corbyn. thatis well have let jeremy corbyn. that is what was the problem with this. so you would say it was unconservative to do that. well that all right. okay. we it wasn't necessarily that conservative at all. no. because look at the, the what was it the corporation tax was going to be was going to be returned to the level it was before rishi raised it. fine. right yeah. but i mean, it's not that radical, you know, it was just keeping it what it was for the last ten, 15 years with the promise to take it down further when they could growth. >> yeah, fine

director of communications at the iea. that reem ibrahim coming up. it's a big one., is live in chief, mark francois, is live in the studio to hit back at starmer's attempts to reset eu relations and put brexit under threat . next, though, around threat. next, though, around 1000 illegals. oh sorry, sorry sir keir . 1000 illegals. oh sorry, sorry sir keir. irregulars now irregular irregulars. anyway they've arrived or whatever they are in just two days and he can't stop banging on about the so—called far right. all right, i demand a plan and some common sense from our prime minister. can i also just say at 10:30 pm, starmer has dropped an p.m, starmer has dropped an absolute corker of a line that i know is going to enrage quite a few of you. i'll bring you that on the dot at 10:30 pm. stay tuned for that warm feeling inside from boxt boilers sponsors of weather on gb news >> hello. good evening. welcome to your latest gb news weather update brought to you from the met office. thursday will be a breezy and showery day for northwestern areas. elsewhere. though dry and

joined now by former labour candidate and mum susie stride andiea candidate and mum susie stride and ieasee you both this morning. susie, let's start with you. and you will say that being a mum is the equivalent of a second full time job. >> yeah. i mean, i think any mum would say that, yeah. anyone that's got experience of working and also having a child. but, you know, it's a massive privilege to be a mother. it's a massive privilege to. yeah, to have children. but it is, it's an incredible amount of work, you know , and i think most you know, and i think most people not just mums, most people not just mums, most people would argue that you are you know. yeah, it's a privilege and you don't do it for this. but actually you are, contributing to the economy because you're also producing the future people that are going to go into work and whatnot. so but yeah, it's a huge amount of work. and i just, i think i don't know why, but it is just not recognised. it's not understood, only when i became a mother did i understand that, and so yes , women. and so yes, women. >> susie, if men were d