frome joined by jan stuart new york. end of the surge we have seen in oil from the 12 year lows? stuart: no, i think the surge in oil prices are a fundamental improvement. it has barely begun. we are on the cusp of entering into deficits. we have not seen them for literally two years. most pressing fear was not about the economy, the economy is fine. member that opec could mess up this party and that is saudi arabia. it could decide to flood the market, for whatever reason. what comes out of this opec meeting for us is that it looks like the saudis are not going to do that and things are going to improve. mark: what happens when the outages come back on stream? venezuela, canada, nigeria? jan stuart: you saw me raise my eyebrows on that one. venezuela production is going fine, down 81% year-over-year -- down maybe 1% year-over-year. nigeria is a very big deal. i don't care that the new opec secretary-general or opec chief of the delegation from nigeria says things are going to get fixed. barely begun. nigeria is a massiv