again today they arrived together again showing how close they are but as i say, i will speak to mr. novak later on if i see any hint of the russians looking for an exit strategy, we'll bring that to our viewers around the world very interesting, looking forward to that novak interview to see if there's a difference of opinion between hill and saudi arabia >> if you're following the oil price closely, head to our website to find out why one economist thinks the latest price surge is artificial. >>> russia's foreign ministry issued a statement saying president trump has invited president putin to the white house. lavrov said trump brought up the issue several times during a phone call between the two men and that trump would be happy to visit moscow in return lavr my colleague, joumanna bercetche has been speaking to the russian finance minister on the sidelines of the imf and world bank spring meetings in washington she asked about the latest mention of possible u.s. sanctions and the impact they might have on russia's economy >> translator: indeed sanctions of any sort have a negative imp

bloomberg is speaking with mr. novak, the russian energy minister.at opec and the deal have no disagreements on goals. everyone is interested in continuing their operation, and that they do not wind up targeting an artificially high price for oil. in particular, he responds to nottweets, saying, "it is -- saying it is not legit. we will break that down more for you. this is bloomberg. ♪ ♪ alix: this is "bloomberg daybreak." very calm and the equity markets and across all asset classes. .&p flat, flat in europe if you flip the boards you can see stirring -- you can see sterling lower by 3/10 of 1%. a potential may rate hike is not a done deal, so will we see some dissent? the market quickly rewriting the prospect from one to two rate hikes this year. we are seeing buying on the margins. thiss been a wild ride week, but it feels very calm today. crude continues to roll over, down 6/10 of 1%. thank you, president trump. he tweeted that opec is artificially boosting prices and he didn't like it. the russian oil minister saying we don't manipulate the pri

mr. novak said, it helps your industry in texas. can i get that chart?t rig counts. 820. >> since the start of the year, we have seen two weeks where they have fallen. output,ts and prices, sending prices higher. expect that to continue. at the moment there is no pressure on the price, but at some point there has to be. as soon as the market tightens, you will see the prices, higher and higher. >> anything in the next few days on the macro agenda we need to be aware of? >> not so much the macro agenda. a flood of earnings, so we get a sense of how companies are cashing in, how it is refracted in balance sheets. you should see pretty good numbers out of the oil companies. to take you back to the trump tweet. a couple things there. talking about sanctions on iran. if sanctions are brought back on iran, that will tighten the market even further. that's a u.s.-driven thing. prices for go higher, even further. trump,eet from donald pushing back on opec, saying they have kept prices artificially high, getting it up for our viewers there. " looks like opec is t

well, they're going to look at investment and they want to see long-term investment absolutely for mr. novak certainly that's what i was hearing. >> steve, thank you very much. let's get back to dan yergin and get his reaction to those comments dan if the russians are sayi saying -- that was my next question we hear the russians might want to sell more oil they can finally make money and use the money. >> becky, they can do the mathematics and know this restriction for them, it's been about 300,000 barrels a day has basically doubled their oil revenues so i think the message they're now giving is that all of them want to keep this thing going until the end of the year. they really like the money that they're making. >> you referred to $70 oil as a new floor, maybe a new range that we're in. it's not necessarily that high, if that's where it stays we got above 70 in late 2009 i would imagine somewhere the ten-year average price is not far from 70. if it's just that, is it okay for the economy, is it okay for demand remaining where it is >> it seems that way it's obviously the question, and so

novak got the feeling of our administrator now. i've heard testimony that many states are seeing positive results in this administration. the question for mrlteri senator barrasso brought up the problems we have had and i been chairing this committee for a number of years and i watch that happen. in oklahoma we were sued in northern california court and forced to comply with the settlement that we were not a party to regarding the regional haze plan a decision congress specifically delegated to the state. the federal plan will cost ratepayers an estimated $282 million in gas and electric the epa's rule and this is" is"--quote the largest increase in history while the resulting impact on regional haze would be practically imperceptible. mr. alteri does this sound like a reasonable expectation from the result of a court case like this? are you familiar with this and are there other comparable problems? .. the more liberal individuals think someone can set an example and in the case of the federal government is kind of rewar rewg actually when asked during the last administration h we have a partnership program take place with fish an fish an