from the beginning of next month, the global oil cartel, 0pec—plus, will cut to 9.7 million barrels ahope this will stabilise the industry and stop prices from plummeting even further. basically, stem the bleeding. they wanted to keep the oil price where it is, and prevent it from going further down, and oil prices should come down, and gasoline prices should come down, and we should see some tangible difference at the pump. but right now, no matter how cheap the oil price is, it‘s not going to matter if you are not going out that much. us president donald trump has been a major diplomatic player, confirming the historic agreement on twitter. he said... mr trump also convinced mexico, a country which refused to agree with its 0pec member states. but countries which are not included in the oil cartel, like the us, brazil and canada, are also expected to slash production, because the oil crash of 2020 is a global problem, and one where there is currently no end in sight. freya cole, bbc news. let‘s speak to julia lee who is chief investment officer at burman invest in australia. shejoin

from the beginning of next month, the global oil cartel, 0pec plus, will cut to 9.7 million barrels af the current global output of oil. the big producers hope this will stabilise the industry and stop prices from plummeting even further. basically, stem the bleeding. they wanted to keep the oil price where it is and prevent it from going further down and oil prices should come down and gasoline prices should come down, and we should see some tangible difference at the pump, depending on various taxation parameters that various companies have around the world. but right now, no matter how cheap the oil price is, it's not going to matter if you are not going out that much. us president donald trump has been a major diplomatic player, confirming the historic agreement on twitter. he said, "the big oil deal with 0pec plus is done. this will save hundreds of thousands of energyjobs in the united states. i would like to thank and congratulate president putin of russia and king salman of saudi arabia. i just spoke to them from the oval office. great dealfor all." mr trump also convinced mex

from the beginning of next month, the global oil cartel, 0pec—plus, will cut 9.7 million barrels a dayg producers hope this will stabilise the industry and stop prices from plummeting even further. basically, stem the bleeding. they want to keep the oil price where it is, and prevent it from going further down, and oil prices should come down, and gasoline prices should come down, and we should see some tangible difference at the pump. but right now, no matter how cheap the oil price is, it's not going to matter if you are not going out that much. us president donald trump has been a major diplomatic player, confirming the historic agreement on twitter. he said... the big oil deal with 0pec—plus is done. this will save hundreds of thousands of energyjobs in the united states. i would like to thank and congratulate president putin of and congratulate president putin of russia and king salmon of saudi arabia. ijust russia and king salmon of saudi arabia. i just spoke to them from the oval office. great deal for all. mr trump also convinced mexico, a country which refused to agree with it

a 2nd about some of the stories that we've been covering are members of the oil cartel opec and their allies are negotiating an agreement to cut supply in attempt to stall falling prices because of the grown virus pandemic oil prices have plummeted by around 30 percent after lockdowns around the world cup demand opec members along with other oil producing countries are discussing cutting global supplies by up to 15 percent prices also decreased because of a price war between saudi arabia and russia who reportedly closing in on a deal of economics editor of a delhi has more. the 1st group is now looking at between 10 to 11000000 barrels 'd. a day and some of those will be faded into the future and now they're also ending a lot from the united states and other nations to step forward as well and introduce cuts of about 5000000 barrels a day as well so in total we could be looking in excess of $15000000.00 barrels a day yemen's hooty rebels have told out they won't stop fighting while the country is under siege that's after the saudi u.a.e. coalition announced a 2 week unilateral ceasefi

it's being called the biggest oil production cut ever opec plus which brings together the oil cartel with other producers like russia said it would cut world output by 10 percent. in the next 2 months opec and opec plus countries will reduce production by $10000000.00 barrels for the 6 months after that they will cut production by $8000000.00 barrels per day and for the subsequent 16 months 6000000 barrels will be cut per day. oil prices it down into freefall on worries about the fires and a price war between saudi arabia and russia but low prices also threaten the u.s. shale oil industry president donald trump welcomed the agreement calling it a great deal. but with oil tanks filling up around the world and energy hungry industries shut down many analysts are warning the agreement may do little to stabilize the oil markets. let's have a look at some of the other groaner virus developments elsewhere in the world spain's prime minister pedro sanchez says said his country remains at high risk of coronavirus after a 3 day decline in the death toll spiked with 619 new deaths recorded in

opec close which brings together the oil cartel with other producers like russia said it would reduce world i would put by 10 percent. within 2 months opec and opec plus countries will reduce production by $10000000.00 barrels for the next 6 months they will cut production by $8000000.00 barrels per day and for the 16 months after that begins 6000000 barrels will be cut per day. oil prices had gone into freefall on worries about the virus and a price war between saudi arabia and russia but low prices threatens the u.s. shale oil industry. president donald trump welcomed the deal calling it a great deal for all. but with oil tanks filling up around the world energy hungry industries shut down many analysts are warning the agreement may do little to stabilize the oil market. at all from our business department is at the table with me awful what does this deal mean for the worldwide economy well christine the 1st thing that it means really is it's a little bit of rest buy it and it's a little bit of stability for the hopefully the oil price and for the energy sector there remains to be s

from the beginning of next month, the global oil cartel, 0pec—plus, will cut to 9.7 million barrels a of the current global output of oil. the big producers hope this will stabilise the industry and stop prices from plummeting even further. basically, stem the bleeding. they wanted to keep the oil price where it is, and prevent it from going further down, and oil prices should come down, and gasoline prices should come down, and we should see some tangible difference at the pump. but right now, no matter how cheap the oil price is, it's not going to matter if you are not going out that much. us president donald trump has been a major diplomatic player, confirming the historic agreement on twitter. he said... mr trump also convinced mexico, a country which refused to agree with its 0pec member states. but countries which are not included in the oil cartel, like the us, brazil and canada, are also expected to slash production, because the oil crash of 2020 is a global problem, and one where there is currently no end in sight. freya cole, bbc news. bernadettejohnson is vice president of

along with the saudi king dorst a historic deal this sunday the oil cartel opec and allies have agreed on the largest ever or oil i put cut it will see a drop of $9700000.00 barrels per day representing 10 percent of global supply kuwait's oil minister in illinois the deal will come into force on may the 1st. by the grace of god and then with wise guidance continue suffered some continuous talks since early friday we can now announce to completion of a historic agreement to reduce production by approximately $10000000.00 barrels of oil per day by members of plus starting from me the 1st 2020. let's get some background in this in early march opec and other oil producing nations failed to find common ground on reducing i put the man took a nosedive on the back of the coronavirus our brick earlier this week an agreement was almost reached to slash production but mexico refused the deal or ever to stabilize plunging prices it now seems that a lot of the american nations been persuaded by its neighbor that the u.s. phone to lower its side temporarily compensate we heard from economist finan

countries agreed to what is being called the biggest oil production cut ever prices fluctuated because of concerns that the action by the production cartel opec along with russia and others won't be enough to reduce a glut of oil on the market. opec close which brings together the oil cartel with other producers like russia said it would reduce world output by 10 percent. within 2 months opec and opec plus countries will reduce production by $10000000.00 barrels us for the next 6 months they will cut production by $8000000.00 barrels per day and for the 16 months after that begins 6000000 barrels will be cut produce . oil prices have gone into freefall on worries about the virus and a price war between saudi arabia and russia but low prices threatens the u.s. shale oil industry. president donald trump welcomed the deal calling it a great deal for all. but with oil tanks filling up around the world energy hungry industries shut down many analysts are warning the agreement may do little to stabilize the oil market. they're watching d.w. news from berlin remember you can get all the latest headlines at our website www dot com you can also f

along with the saudi king indorsed on a story deal on sunday the oil cartel opec and other producers have agreed on the largest ever oil output cut it's set to see a drop of $9700000.00 barrels per day which is about 10 percent of the global supply kuwait's oil minister says the deal will come into force on by the 1st. by the grace of god and then with wise guidance continue safir it's in continuous talk since early friday we can now announce the completion of a historic agreement to reduce production by approximately $10000000.00 barrels of oil per day by members of 4 plus starting from me the 1st 2020 but a back story here back in early march opec and other major oil producing nations failed to find common ground on reducing output as demand took a nosedive on the back of the corona virus outbreak last week an agreement was almost reached to slash production within mexico refused the country later agreed to a cut but by far less than requested by opec economist alexander captive thinks that more could be done to steady the market. it's so important because it puts so slow on the pri

countries agreed to what is being called the biggest oil production cut ever prices fluctuated because of concerns that the action by the production cartel opec along with russia and others will be enough to produce a glut of oil on the market. opec plus which brings together the oil cartel with other producers like russia said it would reduce world output by 10 percent. within 2 months opec and opec plus countries will reduce production by $10000000.00 barrels us for the next 6 months they will cunt production by $8000000.00 barrels per day and for the 16 months after that begins 6000000 barrels will be cut kurdish . oil prices going into freefall on worries about the virus and a price war between saudi arabia and russia but low prices threaten the u.s. shale oil industry. president donald trump welcomed the deal calling it a great deal for all. but with oil time's filling up around the world energy hungry industries shutdown many analysts are warning the agreement may do little to stabilize the oil market. and here are a few more business stories for you the g 20 intends to offer low income countries a freeze on bilateral government lo

according to the agreement — the oil cartel known as opec plus — will cut production by 9.7 million barrelssupplies. since early march, oil prices have plunged to their lowest level in nearly two decades. president trump has tweeted about the deal saying "the big oil deal with 0pec plus is done. this will save hundreds of thousands of energyjobs in the united states. i would like to thank and congratulate president putin of russia and king salman of saudi arabia. i just spoke to them from the oval office. great dealfor all!" in spain — another 619 people with coronavirus have died. the rise comes after spain recorded its lowest increase in deaths yesterday. the country, one of the worst hit by the pandemic, has now recorded just under 17,000 deaths associated with covid—19. it's very disheartening, this figure. today 691 does. that's over 100 more than were registered yesterday. as you mention that was very relatively low figure. yesterday was the lowest since march the 23rd. i think there are eight lot of people thinking perhaps eight major c011 thinking perhaps eight major con had been tu

al-jazeera chicago so despite opec's record production cut oil prices have fallen further has the oil cartel lost its ability to manage prices as asked rajat kapoor he's an oil analyst and managing director of oil and gas at a w.r. lloyd we appreciate your time very much right so what about that what role can or should opec have been playing in this i mean how much power do they really have right now what is their employ it's when you talk about the big from the producers say. whites they do have considerable amount of clout you go to laze not i didn't leave the market has to be balanced by. the consumers and the bigger service but a lot of the seeing it was reflective of the negative prices of the going here that the deputy i was mortified to of the constraint in the supply chain in in in the storage infrastructure so. has as as you've said a plus plus to associate other countries including mexico and agreed for a price cut up to $9700000.00 barrels a day but on the demand side of things we're seeing that that is it drop in demand which is much much more at times but why some analysts here

a historic deal in the making the oil cartel opec and our eyes have agreed to reduce puts among member states by. $9700000.00 barrels per day kuwait's oil minister stated in the last hour it will come into force on may 1st if we go to back to early march opec field to find common ground on reducing i. took a nose. corona virus outbreak earlier this week the world's major producers almost reached agreement to slow production but mexico refused the deal however to stabilize plunging prices and it's been persuaded with the u. s. to lower its side to compensate. ok we will be getting more information. and when it comes in putting some meat on the bones of what it all means but is a recap of the week. of course one subject dominating our coverage of the it's coming to in 30. no forget for up to the minute developments this. twitter page house you see it. more children's. books from listens so that. we're going to move to the jetsons to. do most in stores i'm going to. do since commencement of cancer. more than slow most of them is those who gets you closer to god god knows when you're close

arabia are reportedly close to reaching a deal on cutting oil production the news comes as the opec oil cartel holds a meeting via video link weak demand because of the coronavirus and the price war between moscow and riyadh have caused oil prices to plunge to an almost 20 year low . the u.s. job market is continuing to collapse last week saw another 6600000 people filing for unemployment benefits bringing the total number to almost 17000000 the flood of new claims is so large at least one state florida has opened up a drive through unemployment offices. well the economic consequences are becoming clearer and increasingly frightening that's for him he's the president of the german institute for economic research. the situation in the u.s. is getting a lot to get worse before it's getting better the biggest economy in the world what does it mean for the world economy. well it will mean for the world economy that the recovery will be delayed and we have to understand that the global economy is so integrated so strongly integrated in the u.s. is so important for everyone for all european economie

according to the agreement, the oil cartel known as 0pec plus will cut production by 9.7 million barrelseir lowest level in nearly two decades. president trump has tweeted saying, "the big oil deal with 0pec plus is done. sandy fielden is director of oil research at morningstar. he‘s in austin texas. tell us more about this deal and why it is so significant. thank you for having me. this is an unprecedented agreement because it is notjust between opec because it is notjust between 0pec and because it is notjust between opec and opec because it is notjust between 0pec and 0pec plus which is russia but the largest supplier in the well, the us, as well as other g20 countries which have agreed to support the agreement both in reducing production and also in using up some of the surplus by putting it into storage. can you give us contacts storage. can you give us co nta cts of storage. can you give us contacts of just how storage. can you give us contacts ofjust how important the oil industry is? everything ru ns the oil industry is? everything runs on energy. right now the big issue is we ar

arabia are reportedly close to reaching a deal on cutting all production the news comes as the opec oil cartel holds a meeting via video link with the man because of the coronavirus and the price war between moscow and riyadh caused oil prices to plunge to an almost 20 year low. even the international monetary fund says the pandemic is causing the worst economic fallout since the great depression in the 1930 s. over $170.00 countries are expected to see a decline in per person income this year and almost total reversal of creek or one of our us projections emerging economies and low income nations will be worst affected. in the u.s. the job market is continuing to collapse last week saw another 6600000 people filing for unemployment benefits bringing the total number of to almost 17000000 the flood of new claims is solange at least one state opened up drives through unemployment offices like here in florida. well the economic consequences are becoming clear and increasingly frightening let's bring in massive he's the president of the german institute for economic research. the situation in the

coronavirus pandemic it's the biggest ever would demand for oil plummeting him and the outbreak the oil cartel opec russia and other all producing nations have agreed to reduce production by around 10000000 barrels a day in may and june the deal was initially stalled after mexico failed to agree to what share of cuts u.s. president donald trump said he'd further reduce america's outputs of compensates well the impact of the coronavirus pandemic and international lockdowns have had a major impact on the global economy and mean the world has far less need for oil with normal life grinding to a halt the u.s. energy information administration says it's the least gasoline american drivers have used in at least 3 decades norway based energy research center rice studied energy for across the change in oil demands from april last year to april this year could be as much as 20 $7000000.00 barrels a day the price of bringing crude oil has fallen from $67.00 a barrel in december when the virus was discovered to 21 dollars this month and earlier i spoke to alec schindler who is the president of energy int

arabia are reportedly close to reaching a deal on cutting oil production the news comes as the opec oil cartel holds a meeting via video link we demand because of the coronavirus the price war between moscow and riyadh have caused all prizes to plunge to an almost 20 year low. to india now and a decision by the government in the capital delhi to designate 20 so-called containment zones in the city are considered hotspots where the coronavirus rapidly spreads are the indian states have also defined such sones the decision comes in the midst of a nationwide lockdown restricting free movement of more than 1200000000 people within the containment zones rules even stricter as our correspondent. explains now these containment zones are basically considered hotspots even as we could on our bias cases have been identified and there is an expectation of a proliferation this is the government's effort to break the chain of transmission now india is already in the midst of the t.v. lockdown but these are the inside different they have been completely sealed off while dressed up in some other spots of the

which refused to agree with its 0pec member states but countries which are not included in the oil cartelsh production because the oil crash of 2020 is a global problem and one where there is currently no end in sight. jason bordoff is founding director of the center on global energy at columbia university and a former white house energy advisor to president 0bama. he's in new york. thank you for coming on the show. for viewers who may be a bit maybe board by news of an oil deal, explain why this agreement is different. it is an unusual and historic agreement that firstly, it is the largest cut by 0pec in supply ever. it signals this opec supply ever. it signals this 0pec plus cooperation, particularly saudi arabia and russia. their cooperation will continue. it was unique because the 620 continue. it was unique because the g20 was part of it and cooperated and tried to figure out how to bring it together they had not just out how to bring it together they had notjust 0pec but the largest economies in the world and then finally, the key player in bringing russia and saudi arabia back toge

members of the oil cartel opec and their allies are negotiating an agreement to cut supply in attempt to stall fording prices because of the coronavirus pandemic oil prices have plummeted by around 30 percent after lockdowns across large swathes of the world cup demand iraq spy chief has been appointed prime minister designate the 3rd person to occupy the post this year stuff to me now has 30 days to present a cabinet department for approval iraq's leadership crisis was sparked by mass protests began last year those that lines do stay with us the stream is up next our finance. i thought he had k. and will in the stream today a respectful representation why do you suppose he teaches so destructive to the community let's take a look at a vital twisted thread that explores the impact that some a common tropes have on people with disabilities and this is how important conversation we want to hear from you you can chat me in all tweet me at a.j. strain. my name is malcolm smith and i want to stick to that media traps that affect me one i says the people are jerk wants his bad behavior is j

now they've set aside their dispute opec and the oil cartels allies agreed to a 10 percent production cut the biggest ever but the deal to switch off the top spy 10000000 barrels a day still needs approval from mexico. these circumstances require swift and timely measures all of our oil producing countries must pull efforts to change the situation related to the substantial over production of oil in the world the us it didn't take part in the opec discussions on thursday which are the focus of a meeting of g 20 energy ministers on friday some analysts say production cuts will hurt smaller nations that depend on oil money opec and the international energy agency warned last month that countries such as angola nigeria and iraq could lose up to 85 percent of the oil and gas income this year. let's introduce the panel in london alex shindle our president at energy intelligence an oil and gas research company in new york and one health a senior research scholar columbia university and in johannesburg in south africa n.j. iraq chairman of the african and edgy chamber thank you for joining u

$20.00 largest economies discuss the deal by video conference it follows thursday's agreement by the oil cartel opec and its allies to cut global production by 10 percent but the pact was stalled after mexico failed to agree to its share of cuts president donald trump has since said the u.s. will further reduce its route to help mexico jeff colgan is a professor of political science at brown university and he's author of petro aggression when oil causes war he says it's unrealistic to believe the opec deal will stabilize the oil markets over night. oil markets have actually fallen on news of the deal as opposed to rising as opec plus had hoped that it would happen they were looking for a boost of up to $15.00 a barrel and in fact prices are going into reverse and that's striking because i think there's really 2 things that are happening because of what's happening here one is that while the deal does contain some substantive cuts most of what's being announced are so-called market cuts meaning that these are the kinds of things are going to happen deal or no deal these are decisions made by ind

of between $10.00 to $15000000.00 barrels per day so by purposely overshooting expectations the oil cartel intended to boost sentiment and rally the prices in the short term but in the long term though many analysts think that they've shot themselves in the foot for promising something that is not achievable so i mean that sounds familiar to lot of people right sounds exactly like president trump purposely overshooting expectations on china i trade purchases earlier this year with the $50000000000.00 mark well now traders didn't have to wait long at all for the pump to be feted as oil prices turn negative on the latest news in the tape that cut of only $8500000.00 barrels per day were greeted between russia and saudi arabia last may only through the month of may and june once again at the buy the rumor sell the news with oil train down over 6 percent and the day equities however rose on optimism that the curve is flattening wrapping up its best week since 2008 after the fed gave more details on how they will support the economy amid the coronavirus pandemic the indexes rose one percent and

members of the oil cartel opec and their allies have reached an agreement to cut output in a statement the group says it will reduce oil production by $10000000.00 barrels per day starting on may the 1st for an initial period of 2 months all prices have plummeted by around 30 percent of the lockdowns to prevent the spread of the current virus cut demand a white house official says president trump is currently speaking to russia's president and saudi arabia's king solomon about the deal. still ahead $100.00 at thousands of afghans in pakistan rushed to the border ahead of its planned closure to contain the spread of the current a virus. and uganda's president releases a home workout video to encourage citizens to keep fit steering the pandemic. i know there's some rain is on its way into eastern sections all that new south wales but ahead of that let's talk 1st of all about this little massive cloud you can just see is coming off the edge of your screen there that is what was like and now it is still a pavel's like i am but it is now north threatening any areas but it did do damage look

coronavirus pandemic it's the biggest cut ever with demand for oil plummeting amid the outbreak the oil cartel opec russia and other all producing nations have agreed to reduce production by around 10000000 barrels a day in may and june the deal was initially stalled after mexico failed to agree to its share of cuts but they were us president donald trump said he'd further reduce america's outputs to compensate let's bring in our economics editor joining us from london via skype so our bit we're now learning that for that deal to be clinched there was indeed pressure from the u.s. president donald trump. absolutely daryn you're absolutely right there was pressure from the u.s. president the president and said that there would be tariffs are not oil from saudi arabia and the from russia if they do and did not go through now mexico was the holdout in this in this particular deal they said they wouldn't reduce. their output from 4 of 25400000 barrels a day they said we're sticking with 100000 barrels a day in that sense and the u.s. president stepped in to kind of. the deal to make sure it went t

thank you gayle today, the opec oil cartel and other oil producers agreed to boost oil prices by cutting about 10 miion barrels a day in productionthat amounts to about one-tenth of thglobal supply. >>the cut is the largcut in output inistory. this as industry leaders try to abilize oil market prices from droppg any further much because of differences betwee saudi arabia and russia, the average gas price in the the past 2 weeks to $2 d one cent. the cheapest price of gasoline reportein the nation right nois in tulsa oklahoma atne daughter at $0.42 for a regular gallon of gas here in the bay area, the numbers coinue to climb with most 5,000 confirmed coronavirus cases and a 1 deaths these are the latest numbers for the breakdown by county. santa clara county has 54 deaths 21 people have died in san mateo county, san francisco ounty has 14 deaths 11 in contra costa county. alamed county has deaths 10 in moran and sola sonoma and napa counties have each had 2 deaths to do covid-19. county couple is aring their message of hop after surviving a about was covid-1 kron four's dan orn tk to him