now, let's look at opec.pec plus members are expected to extend oil production cuts when they mooeteet this weekend. the group is expected to continue at the same level at 2.2 million barrels a day. dan murphy is joining us for more. dan, what are your sources telling you what you can expect from the opec plus meeting this weekend? >> reporter: silvia, oil has been trading in a tight range for the last three weeks or so with uncertainty over the war in gaza and the starting point for fed cuts just two of the key issues keeping traders on their toes. one thing is more certain and that is probably what is going to happen at the opec mooeeetin. opec is meeting virtually. that validates expectations that the cuts are rolled over. i spoke with one analyst this morning who said it is already been put into the price of oil right now. the question is whether or not we will see these production cuts rolled over just for q3 or for the rest of the year. sourcing would suggest it will be for the rest of the year. whateve

now, remember opec is led by saudi arabia opec plus is led by russia.bers include a rock or iran, kuwait. >> these are some of the biggest oil countries on the planet and they exist these cartels exist to set production, right? >> the members, they get into a meeting and they agree to set supplied a certain level to influence prices that is not allowed in the us oil companies cannot do that. and all of these allegations have been set off by those stunning findings from the ftc about scott sheffield earlier this month. that's the texas oil ceo who is accused of colluding with opec. we should note that sheffield and his company have denied any wrongdoing, but clear philly borsa, jessica, congress wants to get to the bottom. just what happened here yeah. >> matt egan. all right. thanks so much for that reporting up. next tense moments playing out in florida court where donald trump's attorneys are trying to get his classified documents case thrown out all new subway wraps are packed with delicious ingredients in a pillar. we'll advice around family or refr

i don't think opec-plus want to rock the boat right now.maintain their production levels at this point until there is a reason to change that. once you start seeing stronger economic demand, that's going to spur them to make a change. vonnie: does the fact that we are heading into an el niÑo season change anything? >> it's hard enough being an analyst in predicting oil prices in predicting weather is even harder. you have to be aware and cognizant of that. fundamentally, you got to get back to more of an economic capacity versus weather which is transitory. vonnie: thank you so much for joining us and talking the whole gamut of issues in energy. sticking with energy, senate majority leader chuck schumer and other democrats are calling on the justice department to investigate possible collusion on price-fixing and oil and gas companies. kailey leinz joins me from d.c. with the details. what more could you tell us about how this letter will be received? kailey: how it will be received we have yet to ciber this is an everton number of democrat

. >> talk some oil opec in a little bit. >> we are. you know, i always think you do the opposite of whatever oh beck does always skittish and trying to, besides keeping oil around $80 a barrel their sweet spot for me whenever they start to hold or hold cuts getting desperate. to me oil in my experience is going lower. peter said you have debt coming due, think about the commercial real estate market if we don't start seeing some break in high rates, all of these shows are going to start to pivot to what collapse are we seeing in the commercial real estate market? because those re-ups are big in the next couple months/years. >> 30% outstanding debt in the next couple. >>> still to come, gap gapping higher soaring on back of strong earnings just a gap thing or suran de serendipity. >>> and more after this. >> announcer: you're watching "fast money. here on cnbc. we'll be right back. >> umgc has been absolutely instrumental in my post-military success. after doing about eight years active duty, additional four reserves, i wanted to go aft

will they reduced to hit opec-plus targets?t's a question, will these cuts continue through the third quarter? if it does, you could see prices remain higher in this $80 range. if they don't, we could see prices fall and the market be flooded with more oil. tom: the granular detail on these oil markets. thank you very much indeed. coming up, how polysilicon supply chains are causing a trade war. our weekly deep dive into the green energy transition is next. this is bloomberg. ♪ tom: welcome back. time now for our weekly deep dive into the green energy transition. this week, we look at polysilicon. used in most solar modules. why u.s. china trade tensions have made it a hot commodity. why are governments supporting policy production outside of china then? >> mostly it's the u.s. that is supporting this policy of production outside of china. last month, the u.s. awarded $256 million tax credit to accompany to build the first greenfield polysilicon out of china for years. the reason that the u.s. is doing this is that china makes

if we talk about the main growth driver, now it is the expected extension of opec actions plus.rice of the brand will soon reach $90, but it could be higher. joining me now is my colleague maria filippova. masha, hello, tell us about what price maxims are in the future, experts say. sasha, hello, experts do not rule out $100 per barrel, especially if the situation is... international trade problems due to houthi attacks in the red sea will drag on until the end of the year. thus, the head of the largest participant in the transportation market, the danish shipping company mairsk, vincent clerk, does not look to the future with optimism. he announced his forecast to the financial times. the degree of tension in the red sea does not subside, states clerk. and the new route through us, with good hope , will ultimately not lead to good either. transportation takes longer and becomes more and more expensive. if we are talking about any western state, then the journey from india takes 10-14 days more, and with such an additional time period, if you want to maintain a weekly output fro

will opec increase or maintain production cuts next week? there's a risk going into the summer, summer driving season in the u.s., that we could see a shorter-term re-acceleration in energy prices. that could put some pressure on inflation in the second half of the calendar year. annabelle: just to finish off on valuations, because you mentioned the likes of nvidia, we have seen that stock split. does that set us up for a trend we could see across big tech and if so how do you think that impacts returns for those things? nick: totally. that could set up a trend, annabelle. if you look at two names, meta and microsoft, they are trading above $500, so you do broaden the investor base. they already have quite strong retail participation in the u.s. market and it could even broaden that further. so i think that would be a shorter-term benefit to kind of broaden that momentum absolutely. haidi: great to chat with you, nick schoenmaker of drumming capital in sydney. still ahead, oil traders looking for this weekends opec-plus meeting. it is expect

we have a preview as opec-plus continues with constrained supply. i will speak to the german the fence about the company's latest earnings and europe's defense spending plans. that exclusive interview at 6:40 u.k. time. this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe. saudi arabia -- saudi aramco is set to release first quarter results today. analysts will watch payouts and profits, the oil giant has lowered its profit since the second quarter of last year in line with this opec-plus cuts. let's get the details and preview with middle east energy editor who is in dubai for us, what is the outlook there for profit and dividends from aramco? >> good morning, tom. they are looking for a slight decline probably around 10% according to what the bloomberg intelligence estimates are and that's because aramco has had to cut production because of the opec-plus cuts because of additional cuts that they may try to shore up this market and avoid a buildup of stockpile. aramco is down than 9 billion euros a day and that's what oil prices rel

some of the opec people want to produce.me of those done are producing more than they have pledged to. we'll see what happens. these are some of the effort. let's talk more about the demand picture. we had some weaker factory datas. and the signal is coming out of china has not been so positive. how is that likely to impacting the outlook for al? >> there's some -- outlook for the oil? >> there's a major impacting. so when the products markets go down. and the refiners need to produceless, they're going to ask forless crude oil. that will demand that day. we are seeing a lots of oil on the quarter. and so that supply coming in is going decrease. some of if -- some of the demand there. >> we do see lot of demand for oil burning in that power stations before it tarps off. plus, the u.s. driving season. a lot. those things are bottom. they're trying to look -- weaker months going forward. >> up with thing to keep in mind is i've been reading about china building their own stock miles. something to feed that too. >> let's talk t

watching the price of crude oil ahead of the big opec plus policy moeeting and production decision.a share sale could rival the record-breaking ipo. we have dan murphy joining us now from dubai with the latest play in the world of oil. many traders, dan, have warmed up to the idea that production cuts may be held constant if not expanded. what is the ophfeel from the mie east right now? >> reporter: dom, this comes at an interesting time with the opec plus meeting getting under way on sunday and at the same time we have big news from the biggest of bill oil. aramco confirms it seeks so raise $12 billion in a new share offer. what do we know about this? we know this was widely s spec speculated, but aramco will offer 1.5 billion shares at a range of 26 riyals or 29 riyals per share. aramco raised, we know, almost $30 billion when it listed in 2019. it hasn't tapped the market since. the second offer comes at the time where the kingdom is under significant pressure to fund all that investing it has been doing to diversify the economy away from oil. this new share offer comes when the

the extension of opec and its allies in opec+ oil production reduction and the increase in global demand is one of the reasons for the increase in oil prices . precious price per ounce of silver with 1.56. percent an increase of 30 dollars and 83 cents was traded. each ounce of platinum is traded at $148 and 85 cents with an increase of one percent. specialists of a knowledge- based company had the technical knowledge to update the flowmeter device. of flowmeters to calculate. the volume and flow of oil and other liquids are used in refineries and power plants. in refineries and power plants , a device similar to a meter but more advanced called a flow meter is used to calculate the volume and flow of oil and other liquids. it has been several years that the diesel meters of the rajaei power plant had a defect in performance being self-made and buying this equipment from abroad required spending a lot of money , a need that was solved with the innovative product of a knowledge-based company. the product we produced is a module or extension that sits on old, defective and worn out flowmet

east and north africa, and also confirmed their obligations. countries within the framework of the opecreement, which you mentioned, of course, that also, if we talk about the latest contacts that took place by telephone between the two leaders, on march 20 the king of bahrain congratulated vladimir putin on his re-election as president, and in that conversation the parties confirmed their intention to deepen cooperation in a variety of areas, and the speech it’s about trade, about investment activities, right up to environmental protection projects in turn... the moscow sun, which is especially hot today, also parade crews, an orchestra, red carpet, but we see that the delegation of the king of bahrain, it is quite extensive, still not everyone has left the plane, and we are now waiting until the moment. it is noted that in moscow it is imperative to touch upon the results of the thirty-third arab summit, which took place in bahrain on may 16, then the arab leaders , following the results of this summit meeting, adopted a declaration calling for the deployment of international peacekee

not getting the geopolitical boost we exped but looking ahead to the june opec plus meeting and whether the supply settings will be kept unchanged. as i mentioned, the drum beat of what we're hearing from the fed continues. we heard from loretta messer amongst others overnight. take a listen. >> i was on the record before saying i was at the median, which was three. the developments i've seep in the economy right now i would not think that's still appropriate. the inflation risks have moved up. >> i do think our stu status is likely to be higher than what people have known over the last decade. maybe back to where we were in the 1990's and 2000's. we'll just have to see. haidi: jim is here, a portfolio manager. there's some to and fro in expectations. you think they'll move quickly, inflation will get to a point where it's fawlg. what's the trigger there? you don't see the cut at all this year. >> this year won't take place because inflation is taking a bit longer and the consumer is taking a bit longer to reduce their spend. we do -- however we do think by the end of the year, the cale

other opec members want to see prices higher.i's always take this view that too high is not beneficial for them or any other producers. obviously, too low is not good either. lisa: when it comes to messaging, what is it me that they wanted to do this remotely? ellen: it's a good point, i was thinking about that before coming on. the issue is they want to try to avoid the spectacle, which is interesting, because before they really embrace the spectacle, but they have come to realize that the spectacle can create more controversy and drag things out longer. if they can kind of get everything done remotely before in the whatsapp and whatnot, it could actually result in a lot more conformity and a lot more -- it's much easier to reach consensus that way. lisa: how much is the discussion not being held out loud? the quiet part being that the u.s. is a major competitor in the more they cut production, they lose share to the united states, they could be pumping 13 million barrels per day. how much is that going to be front and center in

opec-plus meeting on sunday will be consequential. avril hong is hanging by with a check of the asian markets. avril: we are seeing a bit of a sideways trade and most of the equity benchmarks, with an eye on friday where we will get the fed's preferred gauge on inflation. we are seeing some positive news lines in the sense of the property sector, shanghai easing the homebuying curbs. the major state banks saying they will invest in their chip fund, account for a third of the $47 billion that are in play for some of these domestic chipmaking companies. so, it it is helping to outperform today. let's take you to what other stocks we are keeping a close eye on. it is those news lines that are the market movers. the chip making stocks in china are extending gains today, but we are seeing a bit of a diversion performance among the chinese property names. the ones that have operations in shanghai are benefiting, but the ones elsewhere not so much. it looks like more needs to be done to convince investors that these property sector woes are

-$so 0 and we're rely -- $100 and relying on opec and venezuela and russia and that's the collusion. to me, biden is the reason for high oil prices. >> they are. they thought if price is high, people will drive less internal combustion machines and didn't take into account two things, one is another arm of the government is shutting down all the electricity production in the country that's base load and i tell anybody that's out there thinking about buying an ev, understand you might not be able to charge it and brown outs and black outs are coming and biden is a price manipulator and he drained strategic petroleum reserves ahead of midterm in half and any term. he turn that had into the political petroleum. larry: that's a direct price manipulation to buy votes and get gasoline prices down before the mid terms. you're exactly right. all right, meanwhile, you have strong feelings about this. >> it's a hallmark recordless of who's in power we don't negotiate with terrorists and joe biden is negotiating for the terrorists and drawing a red line for israel saying we're not sending you a

but according to there was a slight decrease in oil due to a voluntary reduction under the opec pluss were produced. the president emphasized that russian technology is developing steadily to meet the needs of the domestic market, while vladimir putin instructed the cabinet of ministers to speed up and complete the preparation of a long-term energy strategy as quickly as possible. the government has temporarily lifted the ban on the export of gasoline for... it will not be in force until june 30, but from july to the end of august restrictions remain. solution adopted taking into account the saturation of the domestic market for motor fuel, preventing a decrease in refining volumes at individual oil refineries due to overstocking of motor gasoline, as well as the need to free ports from the amount of fuel planned for export, but not exported by direct producers. education in makeyevka has identified 20 schools and kindergartens that need to be restored first, and in the city we will also update the center for children and youth creativity, on the list tasks and regulatory settlement

first meeting in opec in six months. always, it's opec, a signal that no major change. their plan will happen, joe. current output cuts 2.2 million barrels a day, at least on paper, should continue. uae an official visit to saudi arabia. getting their ducks in a row to agree to stay the course. maybe a reason, no new oil putten the market also this. bloomberg reporting latest wednesday saudi aramco close to a huge $10 billion sale. into this goldman note, joe, you seem hot on. goldman sachs, two days ago, coming out long-term projection raising their global oil demand growth to 108.5 million barrels a day by the year 2030. there we go. up 2.5 million barrels a day from the prior estimate, and goldman, pretty smart guys, see significant demand acceleration until 2034, but then, joe, this is it. a long plateau. meaning they don't see any drop in global oil demand for years to come. so goldman's right. demand is going to go up considerably for about 6 million barrels a day from where we are now and then stay there for years

brent at $83 a barrel, weaker as we head towards the opec-plus meeting at the weekend.weaker by 3/10 of a percent in $2330 an ounce. but we can dig deeper into the treasury auction and its effect rippling across the global markets now. the fed beige book also implying that stagflation is percolating, although the fed president rafael bostic said he's hopeful the explosive price pressures of the pandemic are going to normalize over the next year. let's dig into it with our mliv strategist mary nicola. just looking at the effects of all this, we saw bonds dragging down on stocks, but do you reckon we will see a little dip buying now? >> there's clearly a lot of angst heading into pce on friday. that's what you see in the markets where treasury yields are grinding higher in the demands for the treasury auction has been quite tepid. that combination, especially with pce can tell us does it -- and does a really price out to fed rate cuts this year that the market is currently looking for. all of this is keeping investors on the sidelines and pushing bond yields higher as wel

roman, the market reacts to geopolitics and the actions of opec plus.ices. in the very first minutes, a barrel of smesi-brand rose in price by almost half a dollar and now remains at approximately the same level. at the same time, earlier in the week, commodities declined amid uncertainty about the prospects for the us economy. in addition, contrary to expectations, there were no serious interruptions in oil supplies and exacerbations palestinian-israeli conflict. however , the market has now turned to growth. expectations of an extension of the voluntary production reduction by participants in the opec plus agreement, including: to the level of $100 per barrel, but i think that in the next few months they can overcome this level. gazprom bought over 25% in the sakhalin-2 project for almost 95 billion rubles. back in the summer of 22, in accordance with the order of vladimir putin, the former project operator, the joint venture sakhalin energy, was replaced with a new one, already russian legal entity. japanese mitsu and mitsubishi agreed to a change of

opec later this weekend. annmarie: what everyone is expecting for opec's to keep supply cuts into the second half of the year. the geopolitical risk premium we have seen ebb and flow -- they want to make sure they can maintain price and not have a supply glut. what we saw over the weekend, this was welcomed by hops on twitter, saying this is very good news. what you saw for gasoline prices as they were down two cents a gallon from prior memorial day. jonathan: we need to talk about the heightened tensions in the middle east. israeli airstrikes killing 45 palestinians. benjamin netanyahu "despite our utmost efforts not to saw -- not to harm innocent civilians last night there was a tragic mistake." a tragic mistake? i'm not sure that is going to cut it with the international community. annmarie: it is not. we saw the president of france say this needs to stop. axios also reporting that the biden administration is weighing what to do about this and whether or not it crossed the president's redline. lisa: that i

the ftc blocked chef field's appointments citing allegations of collusion with opec to raise oil pricestute, for a broader investigation of the oil industry saying the us is the largest crude oil producer and has been able to stabilize prices. stuart: thank you. the biden campaign quick to cash in on the trump trial pushing out fundraising messages shortly after the verdict was read. we heard from the biden campaign, what the administration. >> very muted response from president biden to the conviction. to the president, not heard him speak publicly about this conviction but on his twitter account, and to get donald trump voting out of the office is at the ballot box, donate to his campaign. to distance the building, he says we respect the rule of law and have no additional comment. president biden's campaign latching onto this conviction. michael tyler saying the threat trump poses to our democracy has never been greater, running increasingly unhinged campaign of revenge and retribution pledging to be a dictator on day one and calling for the constitution to be terminated so he can reg

so much as been underpinned by supply cuts from opec was. look at treasuries, it is wait and see when it comes to the april consumer price index. could you be the biggest test yet in terms of where this really goes, fed expectations and where the fed cut expectations will fall as well. annabelle: ramifications across a lot of different asset classes, but let's bring our nine next guest who says the market has a benign backdrop. george, what do you make of that dynamic we are seeing in the market at the moment, because the emphasis and enthusiasm around big tech, ai continued in 2024. do you want to be looking outside of those names at this time? >> i do. it is not as if big tech is compelling and intriguing. everyone is herding. it is leaving opportunities available elsewhere especially in a global economy that is relatively stable. annabelle: when you look at the opportunities that are outside tech or ai, is it about finding new opportunities in those sectors or downstream different applications or about looking at something completely diff

opec meets june 1 and may continue to do oil production cuts and gas is up nearly 20% already this year has not even started. >> well, what you'll see in the months ahead going into next year is that oil prices will be going up and no small part not because of what opec does but because of inflation. when you have a weak dollar, price go up no, ma'amly in dollars. gold go -- nominally and you'll see prices go up and inflation is not dead and hibernating for the moment but it'll come back later this year just look at weak dollar and look at price of gold. that tells you there are rough times ahead, and every currency in the world, the dollar is only good because every other currency is worse and they're in poor shape with massive amounts of debt and all of the countries have. liz: your big message to biden is cut it out and stop the spending? >> yeah, how about that . they're spending far more than the height of covid for crying out loud and understand emergency spending. but they want to spend and spend and spend. the resources are not there and every resource they take out is less for

we need to blame opec.an blame op he can but they will do what they do. they will benefit from a market that we are actually not helping by not being energy independent. we're helping their coffers, not our own. david, quick last thought and we'll move on. >> you can't say that we are replenishing the oil reserves. we're not. you put that stat up there. look, this is an administration that doesn't understand the economy whether it be this area, tax increases they are talking about, eliminating the bipartisan tax cuts from a few years ago, whether it's student loans. this administration doesn't understand the economy and why americans give him a horrible rating on his handling of the economy and a big drag on his re-election. >> harris: i would add this, leslie. what you are talking about has nothing to do with putting back what he is taking out. why that's important is what if he doesn't put it back? and then there is less oil or less gasoline, less of both obviously? then people will have to pay the high p

inventories way and i miss concerns about opec+ policy of maintaining their stance, impacting these concerns about supply and demand in the market, belle. annabelle: yes, and also we have at the start of trading for korea, as we come online this morning. japan is shut for the public holiday. we are posting gains at the open. a bit of curry on one strand. the dollar having its weakest session overnight -- a bit of strength for the korean won. what is playing into the theme for korean equities and was can play into the sea is that apple numbers. let's look at how the some of those supplier stocks are coming online this morning. we saw the jump in late trade in apples a game of 6%. seeing some gains, as well for some of the companies that supply into that u.s. big tech giant. a company posting stronger-than-expected sales last quarter and predicting a return to growth in the current period. a bit of optimism that the slowdown is perhaps easy. of next guest remains positive on global equities with a preference for u.s. tax. joining us now is kieran calder, head of asia equity research at union b

we have the opec-plus supplied meeting on wednesday.e stock positions may have accumulated sufficiently to actually prompt moderate steps from opec+ producers. we are seeing speculative short in brent at the highest since november 12 20. it could be enough of a standout to represent a target for policymakers at that meeting. in other related news, bloomberg learned that saudi arabia is preparing to launch a secondary offering of shares in oil giant saudi aramco as early as sunday. sources say the seo could raise $10 billion. let's bring in our reporter, stephen stapczynski. stephen, what do we know? stephen: we know it could happen quite soon. they are shopping this around and some investors from the middle east and europe are showing interest. the value would be 10 billion dollars. put that in context, the first initial offering by aramco, the share sale was about $30 billion as a company is worth a trillion dollars. so they are selling very small pieces of the company. but they are doing so because crown prince and bs, as he wants to

that's down to lower oil prices — as well as cuts in production agreed by the opec group of oil producingre's a figure to get your head round, though. aramco says it expects to pay more than $124 billion in dividends to shareholders this year. that largely means the saudi government — which still owns more than 80% of the company. it relies heavily on aramco to finance its spending. our business correspondent in the gulf — samir hashmi — explains. saudi arabia has put in place production cuts, which have been there sincejuly 2022. and since then their profitability has taken a hit because not only has their production gone down, but even oil prices have fluctuated during this period. now, in the last three months, if you look, prices did go up briefly, but that was only for a few weeks. and after that, prices were back to where they were. the average price in the last six months. so that is why the profitability may not go up as much as we have seen, let's say, in the previous years when oil prices were over $100 a barrel. but the thing to keep a watch on is going to be the dividend, beca

colluding with opec nations to pick american pockets? you'd be hard-pressed to get republicans to care about that. i reserve the balance of my time. the chair: the gentleman reserves. the gentlewoman is recognized. ms. lesko: thank you, mr. chairman. i'm prepared to close and i reserve. the chair: the gentlewoman reserves. the gentleman is recognized. mr. pallone: thank you, again. i reserve -- i mean i -- i seek time. as much time as i may consume to close, mr. chairman. the chair: the gentleman is recognized. .. mr. pallone: the republicans claim they care about energy costs. they keep saying over and over again we care about costs but their actions and votes show that's just not true. the biden administration's efficiency standards are estimated to save consumers $1 trillion over 30 years. that's $1 trillion. water heater standards will save american people households $7.6 billion. refrigerator standards will save americans $36 billion. and clothes washer and dryer standards will save americans a combined $39 billion. but the bottom l

and of course we are still weighing the impact of geopolitical risk and looking ahead to the opec-plus meeting. paul: let's get insight now from belita ong. the beige book we got out of the u.s. of the earlier is not too bad. slight modest expansion for u.s. growth and we saw consumer confidence rising in may. that was the first rise we saw they are in four months. we have yields rising antistress for patients. do you think we are going to see another repricing on rates? belita: the fed has been pretty constant in its attitude about when and how it will lower interest rates in the market expectations have moved all over the place. as to the timing and the extent of rate cuts, i think there is so much uncertainty because the fed has not decided what it is going to do and when. that is because given the circumstances today there is no reason to expect them to cut rates. inflation is not where they want it to be any sticky parts of inflation, which are in insurance premiums and rents, are likely not very sensitive to rate cuts or rate increases. so i think for now we just watch and see wh

strength to the oil trade below $80 per barrel continuing geopolitical tensions and waiting on that opec-plus meeting. on the equity side, as i mentioned, nvidia is powering the market once again today to extend a post-earnings rally for a third consecutive session. on the heels of the elon musk start it has raised $6 billion. i'm watching three point -- report mac moran continuing to successfully navigate challenges facing the industry. today's move comes on the back of an enthusiasm wave for copper after china put in place some measures to boost the housing market and having a wonderful week so far. investors are weighing the feds's higher for longer message, investment rates hover around 7%, double what they were three years ago. earlier today we learned that home prices rose. increasing seven point 4% from a year earlier. san diego hosting the biggest annual gains followed by new york and cleveland. paulina wrote today about the possible unattainable american dream of affordable homeownership and she joins us now. how dire have things gotten in the past three years? paulina: i think that

the iea is saying even if opec voluntarily cuts production, the global oil supply could jump by 1.8 million barrels per day in 2025. that's compared to 580,000 barrels per day increasing in 2024. oil markets looking more balanced overall particularly then as we head to 2025. of course, we have seen this oil price pretty much remain somewhat in range there between 80 and $90 a barrel and that's where you're seeing it in play, the consistency having hit that $90 a barrel not so long ago. overall what's this market looking like? there are really significant gains we have seen out of the european stockmarket. we saw the dow jones go up eight days in a row. now you're seeing eight days in a row for even the stoxx 600, managing to move well in this morning's trade, up 123 points. a significant uptick across the board. but the direction, where does that come from? of course, yesterday's ppi numbers coming in a little bit hotter than expected. but it was the revision as well that was expected. that dropped off from a negative 0.1 to negative 0.2. what does that service level actually mean for the o

no fears about what the opec meeting will come out with.er pce data, we saw yields back up a little bit. weak auctions also contributing to those moves. that does it for bloomberg markets. this is bloomberg. ♪ feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. it's an amazing thing okay, that's uncalled for. when you show generosity of spirit to

less than for the same period last year, but we proceed from the fact that we have agreements under opec plus, and this is a voluntary reduction, in addition, and this reflects general positive trends in the economy, production, consumption is steadily growing. energy and since the beginning of this year, when compared with the same period last year, this increase was 6.8%. today the heads of the government's energy sector are present here, as well as the heads of leading energy companies. i'll say more about this at the end, we'll gather in a larger format with the company's leaders and discuss everything we'll talk about today. work and approve a long-term energy strategy, when i said that we would gather in a broader, broader composition, i meant precisely the discussion of the preparation of this strategy, i ask this work to be accelerated and completed as quickly as possible, let's start work, these were footage of a meeting on the development of the fuel and energy complex with the participation of vladimir putin. russian military southern groupings of troops took control of the se

according to analysts , the possibility of continuing to reduce opec+ production. the increase in fuel consumption in america is one of the reasons for the increase in oil prices. however, the plan to plant one billion trees started its implementation process while martyr ayatollah raisi considered the implementation of this plan necessary and necessary to improve the country's environment and ecosystem. tree means water, soil means life. one our existence is dependent on this tree and more natural resources . the planting of one billion trees entered the implementation stage by the order of ayatollah raisi, and the first phase of planting 250 million trees started in december last year in the country . iran has a lot of capacity. now , look at some countries that are trying to plant 2 billion, 5 billion, 10 billion trees. here, with this climate and this capacity , there is a very good field. 300 million saplings were produced, let's give both fruitful saplings to the people and discover non-fruitful saplings. a program aimed at reforestation and reducing the effe

now the economic news is short: russia in april slightly exceeded oil production under the opec plus volumes will be compensated. germany opposes confiscation of russian assets to help ukraine, about this was stated by government spokesman stefan hebeschreit. he noted that germany's position has not changed; only the withdrawal of income from these funds is permissible. at the same time german. stated that the assets themselves will remain untouched, this will preserve the fundamental principles of international law. regarding the transfer of profits to ukraine, according to the eu decision, kiev will receive 3 miles only this year. euro. russian airports received more than 60 million people in 4 months. growth compared to the same period last year is 7%. the federal air transport agency reported. on domestic flights, the number of passengers increased by 3.5%. on international routes immediately to 22. as a russian newspaper previously wrote, this year airlines want to increase the frequency of existing flights and launch new ones. as a result, they expect to increase passenger traf

less than in the same period last year, but we proceed from the fact that we have agreements under opec a voluntary reduction. in addition, this reflects general positive trends in the economy and production. combine the efforts of the scientific community, developers and industrialists and localize the entire technological production chain. such tasks are facing russia. on this topic , prime minister mikhail mishustin held a meeting in sorovye about what has already been done. it is important that these devices are now undergoing different, different levels of clinical trials, that is, they are already preparing for work in the medical network. the head of rosatom tells the prime minister about the tasks and achievements of the nuclear center; for mikhail mishusten, this is the first working trip after his reassignment. telecommunications, medicine, electronic engineering, space devices and even agriculture, where are photonic technologies not used? to date , three laser complexes have been developed, the first of which is a cataract surgery complex euthalmic, the next one is a laser l

iran participates in the opec plus community, but at the same time it is not subject to restrictions.he cost of gold has also increased, yes, prices have updated their historical maximum, the cost of gold futures in the morning exceeded $2,454 per ounce. a new maximum has already been set, basically in fear of a further aggravation of the situation in the middle east. in addition, other factors such as the expectation of a fed rate cut and a weakening dollar also affect the price of gold. by evening, the price of gold decreased slightly. experts do not rule out that this trend may continue. iran is not a country that would produce a lot, by the way, its statistics on gold, on production, are closed, it is not very big and... a consumer, rather they use gold in such barter calculations, bypassing the dollar, but this is not the same player, which, if we take it purely in terms of gold, can affect the world price or something else, another thing is that the news of death itself does not add stability, which has not been in the middle east for a long time, but we have joint infrastructur

i think opec plus is probably going to keep their production at the same levels.gain. and then, if you even flirt with a cease-fire, i think everyone is so poised for things getting worse geopolitically, and opec getting in the way, i think it sets up for oil to come in. >> all right. up next. final trades. - so this is pickleball? - pickle! ah, these guys are intense. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? (♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here. (♪♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com las vegas grand prix choose t-mobile for business for 5g solutions. because t-mobil

will not be going much higher, russia which is pulling back on production in saudi arabia good about opecth not overproducing and as long as that going on in a time when demand is good to be higher in people are driving to the u.s. in one of our participants thought it was a 25% chance the oil prices could go to $100, right now it's looking pretty decent. andy: what about the geopolitics and wars. >> i didn't mention that because it's not having much of an influence right now it's partially because this is not the 1970s in the u.s. is pretty much energy self sufficient at this point in all of russia's oil which is not coming here is going to asia and it doesn't need to go through the channels that it did before in regards to iran and needs to be able to export the oil to so we will not do anything to jeopardize that, for now geopolitics is not priced into oil the all the panelists say and let's hope it stays that way. andy: how do you play oil and gas. >> the energy stocks have been doing pretty well this year, the xle the leading etf is up about 15% which is topping the market many of th

less than in the same period last year, but we proceed from what we have we have agreements under opechis is a voluntary reduction, in addition, and this reflects the general positive trends in economy, production, electricity consumption is steadily growing. since the beginning of this year, compared with the same period last year, this increase was 6.1%. the united states is not going to lift sanctions against iran, in particular the ban on the supply of spare parts for air transport. this is how the state department commented on the death of the iranian president and eight other people. they crashed in an american-made helicopter. and reactions to the tragedy - anton dadykin. the un security council meeting began with a minute of silence in memory of the iranian president and his companions. passport of russia, who spoke. was one of the first to quote a telegram of condolences sent by vladimir putin to tehran. as the president of russia said in his condolences, seyyed ibrahim raisi was an outstanding politician, whose whole life was devoted to serving his homeland. he rightfully enj

liquid avenue opec by the way but only one member of this opec, china.and watched them do this. and then the cards come along. you knowme what a chinese electc car cost? $11,000. why is that? well, because they are getting the batteries for the country made the trillion dollar investment to dominate all of the raw materials in the creation of these batteries, so the companies are able to get batteries for fraction of the cost. by the way, the battery is a single biggest component and the cost of electric car, so of course the cars cost half as much as ours, l or less. how do we do with this? the secretary has described a strategy which is three major principles, invest, align with our allies around the world, and compete. but do we need to online more to say to china you can't keep doing this? you can't keep taking over industry after industry and bankrupting our industry, dominating the raw materials we need, not telling them to us at the same price you're selling to your own people. you can't't have access. what do we do? how do we deal with this econo

the organization of petroleum exporting countries (opec) also condoled the martyrdom of the president. may you prosper your cartoon, god willing, more than before, god willing. the best location of the mosque was seen, especially this mosque , which is now because of motivation for the people of iran, which is in a mosque, may god protect them here. being attacked by the enemy. i am proud to be in this arena to be a small servant for the dear people, god, you know well about the obvious and the hidden. you know our intention and motivation in this field, help us. more than 2,000 paramedics participated in the search operation for the helicopter carrying the president. see a report from the crash site to the crash site of the helicopter carrying the president. and its companions , we are going to sangun region in east azarbaijan, where it is about 130 km from tabriz and the place of the accident. here is the entrance. that is, if you look here, all the forces are working from hilal ahmad. get it from faraj friends you are in the border guard, friends , take mercy from the friends of ha

according to analysts, the possibility of extending the voluntary production cut of opec+ members and the prospect of reduction. that the interest of the us federal reserve is one of the reasons for the increase in global prices. thank you for your companionship with these news sections . in the name of god, i greet you , dear viewers. have a good time. in the last 24 hours , the hottest place in our country was rodan in hormozgan province, with a maximum temperature of 48 degrees and cool. the highest point of beldaji in chaharmahal bakhtiari province with minimum the temperature of two degrees reported in ahvaz with a maximum temperature of 43 degrees is the hottest center of the province and kurd city is the coolest center of the province with a minimum temperature of two degrees. we predict that until thursday , intermittent rains will occur in parts of the provinces of west azerbaijan, east azerbaijan, ardabil, parts of the shores of the caspian sea , especially the eastern shores of the caspian sea, as well as the range and... let's witness the events of alborz. we will have a t

she's also gearing up for a key opec meeting.t we haven't seen you much, helima, which is kind of indicative of what's been going on in the oil patch, hasn't it? >> i've been traveling as well, joe, to the middle east. but yeah, oil is a pretty unspectacular story at the moment. i mean, we're kind of rangebound. we have this morning, this slide due to rate concerns. but also, we don't have a shortage of oil on the market, particularly at slight sweet barrel. there isn't this anxiety that we are tight in the oil markets. now, we could see over summer, european refineries coming out of maintenance, potentially 600,000 barrels of demand coming back. some port repairs in guyana, taking 200,000 of exports off the market. really, right now, we're kind of stuck in this range. we will be watching what happens in less than two weeks' time at the opec meeting. do they go in person. do they do additional output action? do they roll everything over? i don't think anyone's anticipating at this current price level, they'll be putting barrels b

in 2022, this visit was canceled due to opposition from the united states, because of the opec deal,ates was very much against this deal, because energy prices disrupted the visit to japan. now there is a visit to japan ahead of all negotiations, everything else, as if on moral strong-willed, on bilateral relations, so to speak, then there is. even other countries are beginning to influence their energy sector accordingly, why? because japan supplies more than 40% of all energy resources that come to saudi arabia, which represents more than 40% of all energy resources that come directly to japan, primarily oil, so from this point of view, other players are also players, such as saudi arabia, for example, the poor united arab emirates, they begin to intensify their game processes against the backdrop of the weakening of the main players, that is, biden himself, as it were, using the example of the middle east and, above all , gas, shows that it is not possible to completely... control the situation, this leads to serious consequences and many players in the region are beginning to rea

1.8% less than in the same period last year, but we assume from the fact that we have agreements on opec voluntary reduction, in addition, and this reflects general positive trends in the economy, production,... the consumption of electrical energy is steadily growing. since the beginning of this year, compared with the same period last year, this increase was 6.1%. well, also about today’s schedule of the president, vladimir putin held a working meeting with the head of kambordina balkaria on the agenda: the tourism potential of elbrus, the it-park in nalchik, new investment projects, and also construction schools and kindergartens, as well as solving personnel problems in medicine. the results of the meeting will be summed up by varvar nevskaya. the focus of this meeting is in the kremlin. yes, vladimir vladimirovich, we have breakthrough projects that have been approved by the government of the russian federation, including the development of a resort in the elbrus vtrc. today, in the twenty-fourth to twenty-sixth year , it is planned to invest 14.5 billion rubles from the budget, all