we are still joined by martin malone. th this agreement in hand from opec plus, we talked a lot about supply shocks, is the risk of an oil driven supply shock now over? martin: to a certain extent, it is good news that two of the major players in opec have got a deal. what we have to remember is, we had the health care crisis, the pandemic, which was central to 2020, and opec-plus cut 10 million barrels. last year. they're still 6 million barrels short. it is almost like reverse tapering. we will have a 6 million barrels shortage reduced over the coming 1.5 years. we are still going to have severe under supply of oil in the markets. at the moment, that supply has been managed by opec plus, but we also have rampant demand. it is a very tricky situation because they have come to this deal that was a bit of a surprise over the weekend, we will not see up movements in oil prices the next few weeks. the oil price is going to remain tight for the second half of this year, and -- dani: we did have a point earlier in this year, oi

martin malone from alpha books said there is concern around the economic competition between saudi arabia uae. manus: malone encapsulates it. this is a deeper level of thanks between saudi arabia -- angst between saudi arabia and the united arab emirates. what binds us together keeps us further apart. it is an obama quote. they are traveling different directions. it does not look like the tail risk of the uae leaving opec is moving anywhere to the center. there is time to get a date in the diary to reconvene. the white house is hoping for that. dani: they certainly are. consumers are facing higher gas prices at the pump. that is tricky politically. that is not what the biden administration wants to see. biden and the white house released a statement saying your meal for the fourth of costs less. they don't want to see higher inflation, be it food or at the pump. manus: very laissez-faire so to speak and very relaxed $77. the american consumer has a lot of dollars in their pockets from the stimulus check. the s&p 500 a little bit shaken. it is about how much risk you want to take going int