Not long ago opec and other Oil Exporting Countries agreed to cut production they wanted prices but the oil cartel is finding it harder than they thought as crude prices continue to fall also coming up the u. S. Justice department here is trying out of economic espionage charges to chinese nationals as the trade war between the two economic superpowers opens a new frocks and how a hand sized mollusk provides a billion dollars line for a struggling region. Welcome to the program the price of french crude recovered slightly on friday after having slipped to its lowest level in fifteen months earlier oil prices have been steadily sliding for weeks dropping more than Twenty Five Dollars since the
beginning of october when they were hovering around Eighty Dollars investors had hoped to supply cuts from opec or prop up prices of the cartel of Oil Producing countries is finding that easier said than done. Earlier this month oil cartel opec and its partner countries agreed to cut production to
Not long ago opec and other Oil Exporting Countries agreed to cut production they wanted prices but the oil cartel is finding it harder than they thought at school prices continue to fall also coming up the u. S. Justice department accuses china of economic espionage charges to chinese nationals as the trade war between the two economic superpowers opens a new frocks and how a hand sized mollusk provides a billion dollars line for a struggling region. Im first of call welcome to the program the price of frank crude recovered slightly on friday after having slipped to its lowest level in fifteen months earlier oil prices have been steadily sliding for weeks dropping more than Twenty Five Dollars since the beginning of october when they were hovering around Eighty Dollars investors had hoped to supply cuts from opec or prop up prices of the cartel of oil producing
countries is finding that easier said than done. Earlier this month the Oil Cartel Opec and its partner countries agreed to c
a balance deal or if they were just out to maximize profits they are trying to to to find the right balance they would probably like the price to be somewhere around seventy or eighty dollars per barrel compared with the current price which is fifty three however even just two months ago there was worried that the market was overheating the prices it eighty six people worried it was going to hit one hundred and opec a worried about that one hundred number because then that stimulates competition from from other fuels and actually back in june because of the high price opec released their production constraints because they re worried about the price going to high so there s been incredible change in the markets in just two months. well market analyst spencer well speaking there according paris has slapped a half a million euro fine on french oil company total after finding it guilty of paying bribes to win a huge gas contract in iran and nine hundred ninety seven the court says total p
a million euro fine on french oil company total after finding it guilty of paying bribes to win a huge gas contract in iran and nine hundred ninety seven the court says total paid thirty million dollars in bribes to middlemen for help in securing the look at this south pars gas concession five years ago to tal had to pay almost four hundred million dollars to settle a similar case before it went to trial in the united states. now let s get a quick check up on financial markets with our wall street correspondent and scored against wall street s has been having a wild week we ve seen huge losses even strong consumer data couldn t break the slump on friday why. you know what a day what a week what a month at the beginning of the day when we got those good economic data here out of the united states of the blue chips traded up by more than three hundred points but then the mood got sore and by the end of the day we lost a good four hundred points for the week we re down by about seven perc