i'm joanna versace and these are your headlines crude makes a comeback after the longest losing streak since 1984 as saudi arabia says it will cut output with the kingdom's oil minister telling cnbc that the selloff is unfounded. >> market gets it wrong occasionally, as they did a few weeks ago on one side and they're doing it again on the other today, but ultimately it will swing to a reasonable middle. >>> alibaba smashes yesterday's singles day record racking up more than $30 billion in sales in 24 hours. >>> sap snaps up survey software maker qualetrix in a deal made by $8 billion. it is sending shares in the german tech firm lower. >>> amid brexit uncertainty we speak to bank of england broadbent who joins me on set for the next half an hour. welcome, everyone, to our special edition of "street signs. now here are your top stories at this hour. oil prices are surging after sau saudi arabia said it was cutting supply by half a million barrels per day in december. we'll hear from saudi energy minister later in the program and why he thinks markets have been getting wrong on crude pr