t.j. watkins director of stocks at simpler training and boom bust co-host christine christine let's start with what is going on with oil was a stew in the markets. well brand loyal pres has stabilized monday after opec and allies agreed to cut production by $9700000.00 barrels per day that's almost a 10th of global production so this deal is the single largest in history but it is still below expectations of what opec had guided earlier $10000000.00 barrels per day but apparently the oil markets have been so devastated that it'll take any sort of cut at this point even if it's too little too late and that was evidence of volatile trading where it initially plunged down before struggling back up to flat so market reactions to this deal however historic it was was muted as traders view this as more of a chest thumping political theater the reference point for the reductions will be april the months if you recall in which saudi arabia has pledged to pump about $12300000.00 barrels per day out as a ramp up its price war with russia so that effectively means that the 1st phase of the cuts will