mr. hamm, welcome. good to see you.your reaction to no deal in doha, but first question whether you see oil supply and demand coming into balance soon, and if so why? and how soon? amplts we didn't have a whole lot of hope for this -- it's kind of going back to what we saw earlier. the fundamentals of supply and demand was really close, that in the second half this year we've seen much of this go away. and i predicted we post an inflection point and now wee 50 percent up. and the oversupply goes away and supply and demand into greater balance even than they are right now, what does that imply for prices? . obviously we get rid of this overhang, and we'll see stronger pricing. these two very competitive countries over there, winning thing happen, and sure enough that's the overhang goes away, you know it's going to be a long time where we can get back up in production again. we're at an all-time low on rig count. we've seen those go down steadily here. we're down 77%. >> what do you think that means for pricing? when we'

mr. hammes. thank you very much.g up, shares on fire, we will check in with ceo james park about fighting off competition. coming up next. if you like bloomberg news, check me out on the bloomberg app. bloomberg.com and in the u.s., serious xm satellite radio. ♪ reporter: top story this hour, chinese it shares are done as the jump in activity. the pmi for market boosted 50.2, signaling expansion in the tyson act -- ties saying index also 40.7. china's wide ranging fiscal and monetary stimulus may be kicking in. stocks also lower in tokyo after the doj quarterly compound survey showed sentiment along large may factor has fallen to a three-year low. it was at six from 12 months ago. wages in growth will remain pensive, strong yen turning exporters and undermining the bottom line. investigations in malaysia, one fund is widening further. prosecutors found concrete signs of embezzlement funds owed to the companies. this is luxembourg, singapore. bankmorgan chase, deutsche have been asked to hand over authorities document