the person behind the report is neil atkinson. over at the iea. thank you for joining us. we're having a closer read here. and i want to get straight to the stocks. forecasting a dramatics reduction of stocks in the second half of this year. does this come down mostly to the non o poke production. >> the stocks aren't going down they just aren't growing by as much as they have been. and first half we're seeing stocks rising about 1.3 million barrels a day. second half they are still growing but only by about 1.2 million barrels a day. the point being we have a travel towards market balance. the change in the picture between tw two halves is as you say major fall off in production from the non opec countries as a whole. >> and do you think the expectations for the reduction in stocks or the slowdown in growth for the second half, is that already priced in when you look at the drausmtic rally we saw yesterday? >> to some extent yes. but another reason we've had quite a significant increase in prices recently is yes partly that expectation of a tighter market ahead but also t

thanks neil atkinson and javier blas. blain is going to stay with us.xt, a big night in the u.s. election season. ted cruz, walking away. we discussed this story, next. ♪ guy: 14 minutes into the equity market session. it was a down day yesterday. we have seen some stabilization this morning. 6167 is where the index is trading. the dax is positive and the cac is positive, and that is because of what is happening with socgen . is trading strongly onthe upside, up nearly 4% this morning. as i pointed out earlier, it has dropped over the last couple days. yesterday's session was a big down day for european stocks. let's show you what is happening with socgen. this will show us if we are still in positive territory. unis still absolutely flat der the two day basis. they have recovered from the losses yesterday, but nevertheless, we have slightly elongated periods. we are not seeing good news being reflected in the numbers. let's get you caught up with the bloomberg first world ms.. -- bloomberg first world news. funds have come under attack by billionaire s