oil edges higher ahead of the opec-plus meetings. the alliance is likely to restore plans to begin the outputs that halted during the pandemic. welcome to the program. if you're out on holiday, good for you. if not, you did the right thing by tuning into this program because there are still quite a few markets trading and we had some important economic data out of china. stocks remaining there a record. the many futures contract, just a tad bit higher. no treasuries cash trading in asia. we are getting the futures contract. the yuan in focus. it does not go all the way to 620. investors set the fixing to a lower than expected level. we are seeing some verbal intervention, brent crude up 0.6%. the countdown is on for the opec-plus meeting. any color on the prospect of returning supply will be critical. let's turn to some of the european calls, marginally higher than on the euro stoxx future. lower now, a quarter of 1% as we head for some of these markets to come online. the euro-dollar is currently flat. green note on gold. the bigges

market forecast from opec-plus.omorrow with christian malik, jp morgan head of oil and gas research. he has an 80 tarlow -- he has an $80 target on brent for your end. this is bloomberg. ♪ annmarie: you're looking at the principal room. coming up the next hour, statistics investor manager solutions head of global market strategy. this is bloomberg. good morning. 9:45 this memorial day in new york. 2:45 in london. oil trading higher ahead of the opec tomorrow. the cartel now seeing oil demand will exceed supply by 1.4 million barrels a day according to a document seen by bloomberg. moran what to expect from the meeting, joining me is christyan malek, jp morgan head of global oil and gas research. let's set the scene for what to expect for suppliers tomorrow. is more production set to come online for july and august? is that what they will signal? christyan: absolutely. the key input is measuring the view, deciding how oil is progression, taking vaccine, the efficacy of vaccines which leaves demand. the second how ind

guy: can you just give me what happens when opec is tapped out? that i talked to out of the u.s. shale patch tells me they are going to be disciplined this time around. if that happens, where do the extra barrels come from for the demand? at that point, are we talking $70 were significantly higher. jan: if we keep giving them something with a high 60's and low 70's, they will have money to drill and pay off shareholders. i think we will get growth at these prices in 2022. if that is enough, that is a really big question. we will need to keep on growing as well. so we think there is a duration thing going on, and prices at $70-ish sort of makes sense on my spreadsheets, but we all know that would make sense is not necessarily what is going to happen. alix: let's wrap up the conversation where we started the segment, and that was talking about inflation. you are an economist at heart. how much will the commodity rally that we are seeing, whether it is oil or otherwise, fuel reflation into inflation themes? how much of that is going to be sticky? jan

a lot for opec to weigh up.ct on balance, they might stick with the current plan for the time being and certainly start those discussions about what they'll do in the second half of the year in terms of adding more supply to the market. hype the complex has had a bit of a breather, what are the views as to fundamentals from here? jim: i think there is still talk of the cycle continues, i think in some commodities the underlying command is there for a sustained rally. it's probably going to be a little bit more selective going forward and obviously in iron ore. china is keen to keep a lid on those prices. we have seen them bring them down from highs. lofty levels, underlying demand. i think that story has probably got a little further to run across most of the commodities. in terms of extreme moves, extreme volatility we have even, it might be that we see a little bit less of that going forward. haidi: more insight when it comes to the commodities space and as jim mentioned, the super cycle. gordon will be with u

manus: the other major consideration is the three stage return of opec and opec-plus barrels to the market600,000 in may. 700 in june. do you think the pathway to returning those barrels will endure? do you think they should reconsider the pathway of the return of the barrels? >> look at prices. we are at a three week low right now, that is true. before, we were at $70. that is not even a pre-covid level, that is the highest in years. you look at the strength of the prices and you look at everything put together, opec is going to be looking at the recovery, looking at the rollout of vaccines. obviously india is an issue. iran coming back to the market, there's going to be drama. but overall, prices are strong. the demand outlook appears rosy. it is going to be even better when we get through this. the traders are expecting opec to follow through with what they put forward at this is an evolving situation and it could change if there is a big outbreak. obviously opec has to watch it very closely. nejra: -- annmarie: thank you to bloomberg's energy reporter in singapore joining us. just ahea

we are in a three stage reef loading of the oil market from opec less and the saudi supply.tay the course and stay with the three stage approach of delivering barrels back to the market? dan: i think the saudis will push for that. you look at the history of opec, it is one of people getting together when prices are really low and coming together strongly, and as soon as prices start to rise, the bonds start to fray, saudi arabia has done a great job so far of managing to keep people in line. that has been the reason prices have maintained this level at the $60 range this year. i don't think there is any reason saudi arabia will change that. i think the other members, even though they are itching to unleash their full supply, especially countries like the uae, they have to look at the market and realize it is tenuous and they need to hold right now. annmarie: thank you very much for joining us, dan murtaugh, brent on the upside this morning. goldman thinks we could hit $80 even if iranian oil comes back online. oil very different from metals this morning, that is down to chin

so the refiners hoping that's going to come quickly for opec into saudi arabia. they are watching and they know that it influences that strategy. and it would create more competition in effect now this year or in 2022, depending on when exactly right. you know, we'll stop coming back richard. it's been great talking to you on the cost many facts indeed for being with us. i in the us, the political battle continues. have a president, jo biden's, decisions raised the minimum wage last month's pipe and signed an executive order, little increase it to $15.00 an hour for federal contractors, making it part of his corona virus release package. but his opponent say that his policies a crippling attempt to revive the economy. l 0 is my cannot reports for washington . a d c restaurant set to reopen like thousands of small businesses around the country attempting to reset in the wake of the pen demik, the minimum wages one such as you de la santee, hoping for new beginnings as manage off a restaurant recently reopened off to being shut and then sold as cobra, $900.00 raged

opec doesn't have to fear that potential significant share ramp-up.means the market normalizes spare capacity, and we see higher prices going forward. jonathan: at the epicenter of this call is the demand shock. u.n. jeff currie have been talking about this for a while. you are always talking about the character of the commodity market, the energy market, compared to equities, and why we can't price in this demand shock you expect right now. can you run us through that? damien:damien: let me give you one example. airline stocks in the u.s. are back to pre-covid level. jet demand in the u.s. is only halfway back to its pre-covid levels. the commodity has to reflect that. if jet prices had recovered, we would be swimming without the need to demand. so commodity markets are real assets, and a price today's mismatch between demand and supply. so demand rising next month is very important to months rally in commodity prices, but you couldn't have tried not to months ago. i think that is a critical one -- tried that one two months ago. i think that is a cri

group set up after opec, has a path to energy by _ the group set up after opec, has a path to energygy by 2050. they say that only 4% of the reduction - path to energy by 2050. they say that only 4% of the reduction has| path to energy by 2050. they say. that only 4% of the reduction has to come _ that only 4% of the reduction has to come from — that only 4% of the reduction has to come from lifestyle _ that only 4% of the reduction has to come from lifestyle changes - that only 4% of the reduction has to come from lifestyle changes from . that only 4% of the reduction has to i come from lifestyle changes from us. the rest _ come from lifestyle changes from us. the rest of _ come from lifestyle changes from us. the rest of it — come from lifestyle changes from us. the rest of it can _ come from lifestyle changes from us. the rest of it can come _ come from lifestyle changes from us. the rest of it can come from - come from lifestyle changes from us. the rest of it can come from big - the rest of it can come from big structural— the rest of it can come from big structural changes _ th

coming up tomorrow, amrita sen as the opec-plus meeting to explict - opec-plus meeting takes place virtuallys bloomberg. live from new york, annmarie hordern. the u.s. is reporting its lowest level of infections since the early days of the pandemic as it continues to wrought inoculations. more on what needs to be done next. dr. lucy mcbride joins me now. i want to get to your opinion piece in a moment. i want to start with that recorded lowest level of infections. i'm usually based in london. i am here in new york. what a difference i have seen from this time last year. what is the biggest challenge next for the united states? dr. mcbride: we are in a completely different place than we were a year ago. we are in a different place than we were a week ago as more shots going to arms. the available vaccines are nothing short of a triumph of modern medicine and are crushing coronavirus. that said, we still have more work. the pandemic is not over. we still have vulnerable populations were not vaccinated. we have some hesitancy. the ground game is on. we need to help people understand how success

china and restrictions are lifted but concern still remain as india faces a continuing crisis and opec plus plans to pull back on production cuts so joining me now to discuss the latest are boom bust. and david mckelvey nice mcelhaney financial group david let's start with you or oil futures in new york gain as much as 2 point one percent on tuesday reaching the highest intraday level since mid march is the demand recovery getting ahead of itself considering the weakness we're still seeing in parts of asia india and brazil. there's an element beyond supply and demand and in use here i think speculation is afoot and it's likely focused on inflation so here's my case investors judge of both micro and macro concerns and speculation can fall into either of those categories micro aspects tie to the supply and demand fundamentals are always important but there's also the macroeconomic considerations and it would appear judging by the synchronicity of the moves higher in soft commodities and just real commodities oil silver also thinking of the all time high set and iron ore and copper last w

this past couple weeks we had an opec meeting that actually ended before it started. that's the extent which they made a decision before the official meeting even started. at the moment the opec situation looks very powerful and as you know there will be a very strong demand this summer led by the u.s. we got a situation where iran is probably exporting 1 million barrels a day. libya is exporting and india is not consuming you have a pretty powerful bull story for oil where you start worrying about going too far at the upside especially heading into summer, coming out of covid, it's pretty powerful right here. >> paul, before you go, i want to check in on some of the bold pairs trades you announced on this show. we got to do it. august 25, 2020, you said sell apple, buy exxon that's nice, apple up 2% versus exxon gain 44% since then january 20, 2021, you said sell tesla buy eog. tesla is down 20%, eog is up 28%. so what's your latest paris trade, paul? >> a month ago i said by refining i was uncertain but we'll throw that in there. and i keep saying i'm going to retir

china and restrictions are listed, but concerns still remain as india faces a continue crisis and opec plus plans to pull back on production costs. so joining me now to discuss the latest, our boom must be i. and david mckelvey, me, theo, of mckelvey, me financial group. david, let's start with you all futures in new york gain as much as 2 point one percent on tuesday, reaching the highest intra day level since mid march. is the demand recovery getting ahead of itself, considering the weakness we're still seeing in parts of asia, india, and brazil. if there's an element beyond supply and demand in, in use here, i think speculation at the foot and it's likely focused on inflation. so here's my case, investor is judge both micro macro concerns and speculation can fall into either of those categories. micro aspects tied to the supply and demand fundamentals. and those are always important. but there's also the macro economic considerations and it would appear judging by the synchronicity of the moves higher in soft commodities, industrial commodities, oil silver, most the thing is we all

and i think the big goal here for india is to encourage opec to put more. ready barrels into the market, so the price increases are kept under control. or if you are, you know, ideally for india, price is actually full. but of course, just to muddy the waters further. iran a long time supply of oil to india could come back online. if a deal is reached in vienna over its, its duking ambitions. exactly. and those are meetings happening in vienna right now . and a deal could bring a 1000000 and a half additional barrel of iranian exports to the market pretty quickly. you know, 3 to 6 months, we think, and a lot of that supply and maybe half a 1000000 barrels a day, would probably go between the a that's how much of it importing probably around in the past. so india, refiners have be limiting their purchases or commitment on the term contract to buy from other middle east in country to leave space in the hopes that they're going to be competitively priced. iranian oil are available in the 2nd. i hope that's a bit of a gamble because they can only actually follo

china and restrictions are lifted but concerns still remain as india faces a continuing crisis and opec plus plans to pull back on production cuts so joining me now to discuss the latest our boom bust. and david mckelvey niecy mcelhaney financial group david let's start with you or oil futures in new york gain as much as 2 point one percent on tuesday reaching the highest intraday level since mid march is the demand recovery getting ahead of itself considering the weakness we're still seeing in parts of asia india and brazil. there's an element beyond supply and demand and in use here i think speculation is afoot and it's likely focused on inflation so here's my case investors judge of both micro and macro concerns and speculation can fall into either of those categories micro aspects tie to the supply and demand fundamentals are always important but there's also the macroeconomic considerations and it would appear judging by the synchronicity of the moves higher in soft commodities commodities oil silver most of any of the all time high set an iron ore and copper last week that specula

china and restrictions are lifted but concerns still remain as india faces a continuing crisis and opec plus plans to pull back on production cuts so joining me now to discuss the latest are boom bust. and david mckelvey any mcelhaney financial group david let's start with you or oil futures in new york gain as much as 2 point one percent on tuesday reaching the highest intraday level since mid march is the demand recovery getting ahead of itself considering the weakness we're still seeing in parts of asia india and brazil. there's an element beyond supply and demand and in use here i think speculation is afoot and it's likely focused on inflation so here's my case investors judge both micro and macro concerns and speculation can fall into either of those categories micro aspects tie through the supply and demand fundamentals are always important but there's also the macroeconomic considerations and it would appear judging by the synchronicity of the moves higher in soft commodities and just real commodities oil silver also thinking of the all time high set an iron ore and copper last w

so the refiners hoping that's going to come quickly or opec into saudi arabia. they are watching that and they know that it influences that strategy. and it would create more competition in effect now this year or in 2022, depending on when exactly rain, you know, we'll stop coming back. richard. it's been great talking to you on counting the cost many thanks. indeed for being with us. i, in the us, the political battle continues of president joe by mr. sessions raised the minimum wage last month's pipe and signed an executive order. little increase it to $15.00 an hour for federal contractors, making it part of his corona virus release package. but his opponent said that his policies a crippling attempts to revive the economy, el zeros, my cannot reports for washington. a d c restaurant set to reopen. like thousands of small businesses around the country attempting to reset in the wake of the pen demik the minimum wages one such as the de la santee, hoping for new beginnings as manage off a restaurant recently reopened off to being shut and then sold as cobra.

the strategy at opec has played out and is working in that regards.ll continue to force up crude oil prices was the decision in holland to begin to crack down harder on the producers of oil, with respect to the emissions it generates. that will only further drive investment in the oil sector. we haven't seen a significant pickup in oil investment over the last 12 months or so. partially it is covid. so the fact that the regulatory side is very uncertain. net-net, we can expect the market to stay in deficit and that will push prices harder to clearly as a vaccine rollout really gathers momentum. we see this particularly between places like europe and the u.s. as people start to travel more. airline traffic will begin to pick up intercontinental and we will see a pickup of 3-4 million barrels. haidi: i want to get your views on base metals. iron ore rallying in particular. this chart shows projected earnings. of course, australia is a beneficiary. the mining index now at the highest level in over 13 years. now that we had a breather, is the rally still

it's going to help opec, and opec plus moderate we're not going to capture market share away from opec opec plus, and so i think we're going to see -- we're taking the volatility question out of the oil price environment, which is one of the biggest issues we've had over the last ten years. >> right you're still looking at, what, 2.95 billion or 3.25 billion in terms of your capital budget, right? i mean, it's not like you're not going to be spending are you going to stick to that, though, regardless of what happens to the price of oil? >> exactly i've made a commitment that as oil prices, if it moves up above $70, we're limiting our growth to no increase this year next year, 5%. so i've been asked the question, if it goes to 80, $90, it's more money into the investors pocket. >> scott, i want to get your response to what we saw happen in terms of the cyber attack on the colonial pipeline. i realize that it's coming back online right now, and the worst of the situation is over, at least from a transportation of products standpoint, but your response to that attack, how it is -- how tha

having said that, we know that opec-plus has not restored all of that production cut.d bring on another 7 million barrels a day in production throughout the balance of this year. they cleared themselves the swing producers in the event that more shall production comes online or we see more demand in places like india, brazil, or elsewhere in southeast asia where the virus continues to run rampant. i think that as we move up, we will see more pressure for opec-plus to start production. on the other hand, as you alluded to in an earlier story, we have had the u.s. and iran taking baby steps in indirect talks in vienna and i think both sides are interested in making a deal that will lift sanctions and return irani and oil to the market, as well as a radiant part is -- as well as iranian participation in the nuclear agreement. haidi: i want to end on your views on india. are you watching for real implications on the crude market ? >> i definitely am. to put it in perspective, india consumes about 5.3 million barrels a day on a pre-pandemic level, roughly one quarter of wha

drive the price of oil higher while there is this restriction on the production that's coming out of opec the demand side, however, there is a hit coming from india as we have been talking. there are a couple of things at play here. >> absolutely. i think it is staggering when you think of how much this pipeline is responsible for it it carries 2.4 million barrels a day. 45% of the east coast supply we are talking about a huge volume with the pipeline it serves as a reminder of the threat of cyber attacks pose to national security and private companies and national security. an issue companies around the world are paying attention to and prepare for, joumanna. >> a big theme one we are watching closely. let's take you to the broader markets and spell out what is happening. of course, friday, investors were watching closely the payroll came in below expectations we expected 1 million and the estimate was 750,000 lower lots of explanations it means the fed will not be in a rush to start tapering we saw the stoxx 600 end the week up 1.6% points. this is mixed between red and green today. the

opec is clearly managing the market well. the big story is what happens? do we get a deal or not?he volumes coming back from around opec will manage that market and we still have that uncertainty, i see us breaking out of the trade in oil >> lydia rainforth of barclays, bp is the oil stock. thank you for coming on "worldwide exchange. best to you. >>> all right. coming up. your exclusive weekly insider buying segment and one big buy by a big business name you know. >>> plus, look at that chart $8 million buy at that stock it's a recent ipo. a huge group of insider buyers the name's ahead >>> as we head to break. some of the other top headlines on friday. "the new york post" says hertz is considering relisting after it comes out of bankruptcy in a twist, it could be a jab of the old exchange they may be switching to nasdaq. >>> moderna may manufacture its covid vaccine in japan chief executive telling the nikkei that the company is in discussions in several countries in asia. including japan. >>> two companies owned by byron allen with a lawsuit against mcdonald's the suit seeks $1

there's a big week coming up we've got opec to watch out for. opec will be deciding what to do, how many more barrels they're going to bring back to the market but that combines with a more solid outlook for demand that's helping to put a real floor under the price of energy here we're watching that very, very closely. but the past couple of weeks have been quite good for the energy sector. >>> now, the federal reserve has told deutsche bank it's fixing money laundering controls with regulators the bank could face a fine, according to "the wall street journal. deutsche bank offered no comment to cnbc, so deutsche bank is now trading quite substantially in negative territory, down 1.7 percentage points weighing on the german index dax of course, deutsche bank for a while has been out of the news some of this comes as a bit of a surprise, a negative surprise to the stock this morning >>> now also coming up on "street signs," a tale of two sectors. growth activity slows in may, but services are picking up, posting growth for the 15th month in a row

and so you did not have a powerful opec out there. we sort of took energy for granted at that time. on one additional thing i would mention is we put in the barrier to imports it was called the import quotas program. so we intentionally did not import much oil from the middle east because of the security concerns. so most americans prices were low. we did not have gasoline lines and people did not think very much about energy. it's reckless it's a nice for if you are old enough to remember, no one worried about energy. in fact we looked forward to gas wars were the price of gas would go down into the teens 15 cents, 14 cents, you remember that. >> rights. in addition to that somewhat would pop out to your car, they would check your oil and they would clean your windshield. and you've got green stamps for your purchase that you could get different prices with. that was a different era. we all kind of miss that to some extent. >> well what happened to cause the dramatic change of the 1970s? >> a couple of things. i guess the main thing that would stick out is a 1970 u.s. oil productio

jobs that is like saudi arabia you know they're part of the biggest component there of the cartel of opec and the u.s. is the biggest component in the cartel known.

rising frustrations with opec and its own claims to crude as god given, festering worry about liberal drifts and energy policy, heightened tensions with aramco and middle eastern oil suppliers, and suspicions that america's turn to foil -- foreign oil in 1940 was at the root of the shortages in the 1970s, intensified and anxiety that the gop's new elite used in their mind the rockefeller vision. by the 19 eighties, with saudi arabia now sole owner of aramco, the country's morale groups and moral alliance disbanded and [inaudible] one could say at this juncture that [inaudible] and it's 20 pillars of international oil and religion had succumbed. of course, there were other signs as well including the persian gulf war and a violent remapping of oil interests and american confidence in the middle east. today it's very clear that the exceptional authority loose proclaimed for his carbon rich country is no longer's -- no longer america's to enjoy alone. that underlines a irony in play. meanwhile, one could consider current politics as the -- third day in the sun. in a recent texas swing, m

opec-plus countries meet tomorrow to review their oil production plans. is expected to continue reviving -- reviewing output. keep an for a policy decision from the road serve bank of australia. and when stacy's the start -- and wednesday sees the start of the st. petersburg economic forum. friday, g7 finance ministers and central-bank teams will meet in london ahead of the main g7 summit next week. also, watch out for a rate decision from india's central bank and of course, we have the big jobs number coming out. definitely keep that one on your calendars. we will take a look at the stocks to watch including airbrush -- airbus as qatar airways may stop taking deliveries from the plane maker over a mysterious spat. this is bloomberg. ♪♪ >> the president keeps saying that an action is not an option and time is not unlimited. the american people expect us to deliver and it is my hope that these continued conversations will be productive and will lead to clear direction. >> he has expressed to me and our group numerous times his desire to work with us and ag

second pipeline is hacked and you are virtually putting us on our knees to the arab countries and opecn the took you 130 days. might hunder have a contract with them, too? we need gas to go on vacation and visit family members. a multi million dollar investment in an electric car company that you just visited as president are trying to wean us off gas by taking gas away. you know, the prosecutor in me makes we wonder whether this is all part of a bigger plan. joe, i don't want an electric car. america doesn't want electric cars. only 2% of americans even own electric cars. leave us alone. or does hunter have a contract with them, too. so far joe, everything you have touched is a mess. you can't deliver a straight message on a mask. it's common sense. america isn't listening to you or the cdc anymore. if you had a vaccine you don't need to wear a mask. we just had the worst jobs report last week when it was projected we would have 1 million new jobs. instead it came in with a pathetic 266,000. inflation and recession is on the tip of everyone's tongues. under president trump america exp

jobs that is like saudi arabia you know they're part of the biggest component there of the cartel of opec and the u.s. is the biggest component in the cartel known as us dollar global hegemony and back of the depression of course there were no jobs and people when hungry here we have millions of jobs and people are still going to go hungry because the inflation that's being unleashed his monumental and food is getting out of reach for many people and then also energy costs so whether it's an inflationary depression or do you place a very depression when you put central planners in charge of the result is always the same total economic malfunction i kind of think as well that the game theory that happened that foresee us off the gold standard in 1071 was unfortunate the french were very good at it because they're good at figuring out ways of not ever having to work right and getting paid and the french were watching and understanding what was going on so they called their gold back and the same thing it's like everybody knows that there's an exorbitant privilege to this right on one hand f

the things that your fallen former prumps so proud that america was becoming -- independent of the opec companies and gas and oil from those countries and now yoib is making a point to say you know we have to have electric cars. and you know, in the if batteries of profell them. what do you say about that? >> what was his first order of business right after he got inaugurated 11,000 energy jobs immediately eliminated in the united states of america you were right under president donald trump we were energy independent we were net energy exporter for first time in history. that meant that we were no longer reliengt on the middle east no longer reliengt on russia for anything think about not only how great that was for the united states. just from taxpayers and our pocketbooks sense but on world stage national security -- we have lost that. we're back in the paris climate accord we're back in the nonsense call deals that hurt americans and do nothing but virtue signal that is what this administration biden-harris are or or harris biden administration is all about virtue signaling it is ri

oil in focus ahead of an opec-plus policy meeting.come back from lunch break under some pressure. factory output rose more than expected. offsetting the impact from the emergency at home. retail sales getting hit a lot. kddi currently under pressure. rishaad: with the olympics two months away, there are concerns japan does not have enough doctors to support the games. let's get over to our tokyo bureau chief. great to see you. there is so much political opposition and groundswell opposition is becoming more -- it is becoming more and more unclear if the games will go ahead still. guest: yeah. the possible shortage of doctors is going to add to that and intensify the talks around how many spectators will be allowed. obviously that will increase the risk of infection and the medical staffing needed to hold the games safely. it is not only the virus risk concern but another major risk that needs to be taken into account. the opposition from public and medical staff may intensify and we do not want to rule out any cancellations. but at th

joe biden emboldened opec and allowed russia to brick oil into the united states.produced our own under president trump. what is going on in israel is a clear example this president is being tested and failed to rise to the occasion. you have to stand with our allies. israel has a right to defend themselves. you have leaders in congress criticizing israel. he is not standing up to them. he is killing jobs want inflation through the roof. look at the lumber prices. anything at the store is up and joe biden is paying people not to work when 10 million people and small businesses can't run their businesses. you wait months to get an appliance. joe biden's leadership is absent when we need it. >> sean: kevin mccarthy, your hands are tied more than mitch mcconnell.sp it's a 50-50 split. the legislative filibuster if they want to remove it, they would need one republican to make that happen. the republicans if they stay united they don't have to provide a quorum. you are only 5 seats away from a majority. >> only 5 seats away but that's true. if you are worried about the

father-in-law former president trump was so proud of is that america was becoming independent of the opecntries and the gas and oil from those countries and now joe biden is making a point to say we got have electric cars in the batteries have propelled them, what do you say about that. >> what was his first order of business right after he got inaugurated, 11000 interview jobs immediately eliminated in the united states of america, you are right under president donald trump were energy independent exporter for the first time in history, that meant that we were no longer rely on the middle east and no longer rely on russia for anything, think about not only how great that was to the united states for taxpayers and our pocketbooks but on the world stage national security we have lost that and were back in the paris climate cord and back in these deals that hurt americans and do nothing but virtue signal, that is what this administration inviting harris, here is fighting the administration is about virtue signaling, it's ridiculous. judge jeanine: to you congressman donald's, the truth is a

things that former president trump was so proud of is that america was becoming independent of the opec countries and the gas in the oil and now joe biden is making a point to say hey, we have to have electric cars and that batteries that propel them. what do you say about our? >> well, what was his first order of business right after he got inaugurated? 11,000 energy jobs eliminated in the united states of america. under president donald trump, we were energy independent, for the first time in history. that meant that we were no longer relying upon the middle east, no longer reliant upon russia for anything. not only how great that was for the united states, just from taxpayers and our pocketbooks but also on the world stage, national security, we have lost it and we are back in the paris climate accord in these nonsensical deals to do nothing but a virtue signal, and that is what this administration is all about. it is ridiculous. >> you know, the truth is that america, according to joe biden is now in a better situation than the rest of the world. can you tell us what your take is es

here's what to expect for the rest -- that opec-plus meeting is one thing you have to be watching, expectations tilted toward no change. employers probably adding 600 50,000 positions and we have the g7 finance ministers and central bank governors meeting in london friday and saturday as well. haidi: a muted start to the asia trading week. in the u.s., the transportation secretary is suggesting time is running out for republicans to reach a deal with the biden administration on infrastructure spending before democrats go it alone. >> the president keep saying in action is not an option and time is not unlimited. the american people expect us to do something, they expect us to deliver and it's my hope that these continued conversations will be productive and lead to that direction. haidi: the two sides have been locked in negotiations over the package with the gop pushing for a smaller deal. the democrats are signaling they are ready to go it alone. where's the momentum when it comes to reaching a deal? guest: it seems like nothing much was achieved over the weekend but joe biden will meet in th

brent crude continuing higher, even though opec-plus is now easing on earlier supply cuts.ks like in the banks are confirming the commodity rally has legs for now . back to you. >> was just getting a line that tokyo and osaka seeking an extension of the state of emergency, according to local media. we heard earlier that there were indications tuesday that they may seek an extension of the current coronavirus state of emergency due to the sheer number of new cases and pressure on the locals as well, but saying it would be difficult to loosen or into that emergency. the prime minister also reportedly struggling with that decision, whether to extend or not the state of emergency for tokyo in greater osaka. we do here they are seeking an extension for those two areas. but it's more this is bloomberg. ♪ -- a lot more ahead. this is bloomberg. ♪ >> wall street institutions, returned to the office, goldman sees employees in the building by mid june, after jp morgan announced workforce rotation. other firms are setting policies for an eventual return to the work place. let's get mo

can opec-plus continue to taper on -- uninterrupted? let's stick with the oil theme.olders voted for a proposal to reduce omissions from the company's customers. the latest sign that the oil price is coming under pressure to address environmental concerns. >> there were times, not too many years ago, where it came up infrequently in discussions with investors. today, it comes up in every discussion. it is the first thing that comes up in a conversation. i'm not surprised that it's high on their minds. i meet with investors all year long. this has been a regular topic. we've been hearing about it. you're right to get investors do want to see higher returns. our industry is one that has not been in favor with investors because our returns haven't been a strong as they historically were. we've got work to do. it's why i really talk to our people about high returns, low carbon. we need to do both of those. investors say that's exactly right. that's what we expect. that's what we are committed to. annmarie: -- >> today was extra terry. exxon mobil was taken on by a tiny ac

we are glad to be able to bring opec to work and please our guests at the same time.ou mentioned, this big news from the cdc. we are still waiting for children to be vaccinated. are you still waiting for children to come mask-free, or customers in general? bob: we are still digesting the guidance given a few hours ago but we think that is in the future for us, the near future, in fact. we think it will make for a more comfortable experience in walt disney world in orlando. emily: florida has lifted all restrictions. i'm curious how far away you are from 100% capacity and will you get to 100% by the end of the summer? bob: there is a variety of guidance we have taken since this pandemic started. we have national guidance from the cdc. health officials from the state, the governor of the state. local mayors and everybody sort of comes to what seemingly is the same realization over the past couple of weeks that it is safe to reopen, that people do not need wear masks. social distancing requirements are literally evaporating. i think that gives us the ability to create th

the first of june meeting of opec-plus. this is going to be a critical point of discussion.reed before that, you at least have a timeline. if deal is not agreed before that, you know the timelines remain vague and there is always a scenario, death not our base case, but it is a scenario that the delayed, and then it would take quite a bit longer and you are looking for in iranian return in q4. what i think the saudi's are going to push for is after the july increase, hold off on any further increases. get clarity around iran. let demand inventories draw down. if you are in a deficit, you add the barrels back. there is a lot of in depth demand for when iran returns. they are holding back because they are expecting iran to return, expecting them to give better prices. it's not that you are going to see a glut -- i do think the refinery demand will pick up right at bit as well. manus: the demand is out there, pent up demand. we have a sharp drop on the back of substantial progress. if iran comes back, 3.4 by the end of the year, that is your timeline, does that cap this market