will opec freeze production? the answer to that question from an exclusive and rare interview with the top opec mill minister who tells us production cuts are coming, and you will not believe how high he sees oil going by the end of this year. >>> plus, the s&p officially breaking through the 1950 level, but is the rally about to come to a screeching halt? we've got the key levels to watch, and later the uncertainty around the apple shareholder meeting is setting up for what one trader is calling a win-win situation for investors. we will explain, but, first, we start off with the markets. stocks may have ended the day flat, but here's what was really interesting today. banks rallied, gold fell, bonds fell, yields rose, so are we out of the woods and are the bulls back in charge? guy? >> i don't know if we're out of the woods, but the bulls are back in charge. great week for the bulls. today nothing special. the fact that we gave up the gains, not a big deal, but what's been interesting the transports which led u

let's not get carried away with this notion this is the old opec. liz: it looks like the old opec. wonderful to have the. everybody should read the book the only game in town, he feels passionately about it, no recession just yet, probably not negative interest rates but there is a very good position, great to have you. we are 44 minutes away, dow jones industrials down 280 points, 411, the dow heat map as we call it is red. not entirely read but cisco systems bucking the trend up 10%, this after the network equipmentmaker was up better than expected when it came to earnings and increased demand for products, $13 billion share buyback program they instituted. cisco looking pretty healthy right now. up next the presidential campaign trail leads us all as we said yesterday, south carolina deeper and deeper into the south, are there any political winners? how do you capitalize on an ugly picture like that? dr. ben carson is live in south carolina right now speaking about all of what is trying to keep him into the race that our political panel is up next to make it all worth your while

in the past opec would have moderated production to keep prices down. but they didn't like to do that because then they would lose their customers to the shale producers. so, what eventually happened we got into this production war, at a time when the global economy was very, very weak. and, instead of actually inspiring the economy, inspiring demand, it created uncertainty and fear. and that's where we're at today. so now, if these fears become a reality, if the slowdown in china becomes more pronounced you will see demand really fall. lauren: we're in trouble. phil flynn, thank you so much. have a great weekend. senior market analyst, price futures group. >> you too. nicole: coming up actress meryl streep is in hot water over her comments about diversity in hollywood. we'll tell you what she said that made headlines around the world. >>> dangerously-cold weather to the northeast this weekend. fox meteorologist maria molina will have the deep freeze forecast. u.s. stock futures, dow down 544 points this week. up arrows today, up 95 points. nasdaq up 30

andael: in terms of opec non-opec that they will require non-opec corporation. they say that they don't get the cooperation they need. there is a history in russia when an agreement wasn't followed through as opec would have hoped. so it is not great. non-opecmerica a nation? how do you compartmentalize opec and non-opec? how does america fit in? michael: the trouble of their is that you don't have a huge state owned company operating. it is a large number of independents and it is more problematic to organize or coordinate action. ance, the u.s. has never non-opec country cited as talks with saudi or opec. francine: you say you are underwhelmed. do you think they will cut production at some point? a similar agreement happened in 1999. it is interesting. they haven't said anything about price targets or a floor. point, i think that in the markets mind is that if to $20 or $10, how much does that raise the probability of a coordinated action? and the fact that they are speaking now does present that possibility. what role does iran have to play in this? we saw th

opec was looking for cooperation inside opec as well as non-opec and that has not happened. it is not easy. the countries have different oil interests. of a big probability deal between opec and non-opec countries is what? >> come on. ryan: we want numbers. againstbly slightly 60-40 against. it is a real possibility. ryan: those people are very dismissive of that idea. the oil market took off when the russian oil ministry -- minister said there may be some corporation in february. >> on the production side. given the fact that it looks like it will last a big longer and the stocks are bigger, those producers have to consider whether they want to have low prices for such a long period of time. ryan: will the saudi's be less confident about their approach than they were a year ago? i don't really know. ultimately, the lowest cost producer. they will eventually -- others will go. ryan: is there readiness or more of a readiness in saudi arabia effortider a coordinated to reduce their own production? >> i am sure handled correctly they would still consider a coordinated cut. that

looking at alix: oil, six opec and non-opec producers have agreed to an emergency meeting. joining us by the phone is the head of commodities and derivatives research at bank of america merrill lynch. we saw oil prices rallying before this news broke. do you give any credibility to these headlines? >> it's hard to give a lot of credibility. remember, at the end of the day unless saudi arabia comes out and says -- we are taking part in this discussion and we are prepared to delivered -- to deliver a portion, i think there will be a limit on credibility. remember also, prior to the opec meeting of last december, prices were surely trading higher. it was pretty clear that prices were going to decline following -- following the lack of agreement from back then. so, we went from $40, $45 all the way down to the low 30's. sign that is just a saudi's are not prepared to give up on this strategy. scarlet: they could all meet and agree to production that has artie happened, or put out some sort of unified statement in order to calm the oil markets. do you feel that these ancillary t

, non-opec. but even if there is open consensus within these two, opec may you ready to do something this year because the market is going toward stabilization by this year. saudi arabia has achieved its objective. increased production by 2 million barrels. last year's oil production was 1.5 million barrels a day. it is achieving its objective. i believe that most of the large countries are achieving their maximum capacity, so it is about time they achieve some consensus. francine: is this a desperation move? when you were president of opec in 2001, it was the last time we saw cooperation between opec and russia. can opec trust russia to freeze production? chakib: it did not really work in the past. possibly this time there may be some good reasons why russia may be -- and also other countries, like norway and mexico? -- like norway and mexico -- may toto achieve some consensus stabilize the price because everybody is urging opec with the economy and establishing markets. francine: i know opec wi

non-opec. in we had pretty high prices 2000 12. historically high sustained prices. maybe not the peak level that was reached in july, 2000 eight, but it was a very high price. witho historical times different outcomes. one ending in low oil prices and one ending in high oil prices. so i thought it would be interesting to take a look at what might happen from 2013-2025. we have the outlook for demand and again, it may be too strong. demanda plus one on oecd and over the last two, it was negative. demanddo have an overall , plus 13. the next picture, the only difference is that we have the non-opec supply from 10-15 and that wasd there was -- million barrels a day, all we did there was to get that spread , two different views. and then we looked at the implication for the call on opec. and we did the math and ended up with a negative three-plus two. which interestingly enough, that is in between the other two times. opec itself is quite different. you have a situation where iraq is getting back

, that opec was dead. does this conversation of a freeze show that opec is indeed very much alive? the important part of 2014 was not that opec was dead or not dead. opec, thisation of wonderful institution that you pay peanuts to join, what has become the driver of opec in saudi arabia, what did they say in 2014, go balance yourself. we need torabia says stabilize. he said there's no sense in wasting our time seeking production cuts here and they will not happen. what will happen is we will all agree to freeze production and eventually the market will balance. deputyt seems like the crown prince is very progressive when it comes to reform. but taking production cuts on the table makes me wonder, is there discord? jan: that's what i was trying to say earlier. and oil minister executes that piece of national policy. who sets national policy? experienced manager and executor of oil policy. the powers that be say where to go to doha? joe: the counterpoint to all this, goldman sachs has argued that as soon as

do type in opec go. bigl ahead, anglo-american, move today, shares slumping as much as 8% after losses bled into a fourth year we will hear from the company's chief executive next. ♪ mark: this is the european close. i am mark barton with and in greeley. let's turn to the big story of the day, shares of anglo america -- the company reported $5.6 billion quarter annual loss. on bloomberg us earlier and discussed shrinking the business. is a matter of stripping us back to the core, rebuilding the base and making sure we are fit to go forward in a positive and strongest way we can. we have been making changes over the last 10 years that have been incremental. was time for a bold step out. working on the strategy over the last couple of years and in this market, the opportunity is there to reset and start with a different looking portfolio and making bold moves. shortly from a investors at this stage. if prices do not stabilize, do you think you will have to be putting further assets into the field as well

opec and non-opec members work together to freeze output. will it work? us forldman sachs joins his take on oil. alix: we begin with our market minutes. what a day, what a rally. the s&p closing around the highs. the best two-banged date rally day rally since august. is this a dead cat bounce? joe: a lot of these gains came in the futures market. it looked like we might give it around 80, but going out at the highs of the day, strong all-around. apple having its best day in a month. of s&p stocks up 3% today. , but banksed apple and retail did well. the guys who got beat hard last week had a rebound. the third straight 200-point move. we are in a time of lots of volatility. alix: chesapeake was up huge, was upt-mcmoran, wynn huge. these guys have huge short interest. and freeport-mcmoran at 20%. rally, take it with a grain of salt. joe: interesting to watch those casino stocks. people wondering if there are signs of a bottom there. something else to look at is risingnterest rates across the board, increase in yield in the two-year and 10-year. last week,

in the past, opec has cut production in response. not this time. >> before the oil price collapse, the assumption is that opec would underpin the oil price by cutting production. but the key oil producers in the gulf, saudi arabia and the other gulf states, said we're not going to cut unless other people cut. >> reporter: daniel yergen is vice chairman of ihs, an international information company. and the pulitzer prize winning author of "the prize, a history of oil." >> saudi arabia's basic strategy is to maintain its market share in the global oil market, and that's been the starting point for them. >> reporter: at the expense of everybody else? >> yes. >> reporter: so began a huge game of chicken. with saudi arabia and its opec russia, too. and the united states. you've heard of fracking? pumping water into shale formations to free hard-to-get at oil and gas. well, fracking meant that the united states suddenly was producing a lot more oil. so much that for the first time in 40 years, we're exporting it. >> u.s. oil production wen

opec supply went down. part of it was iran, iraq, doing all the things that they have done so well for so many years, you know, changing a little bit now and ended with a big price decline. the next historical period is 2000 to 2012 and, again, we see consumption went down but nonoecd went up over that period. a much different thing on the production side, so we kind of needed 12 million barrels more and six of it came from nonopec and six from opec and we have pretty high prices, you know, in 2012 historically high-sustained prices. maybe not the peak level in july 2008 but high price. two historical periods and very different outcomes. one ending in lower oil prices and one ending in higher oil prices. what does this say what might happened in 2013 to 2025, we've had the outlook for demand. i don't know, maybe too strong. one thing i notice is outlook at least we had a plus one on oecd demand and the last two periods it was negative but okay. it is what it is. we have an overall demand of increase of plus

it involves the oil world, opec and non-opec nations possibly talking about one particular thing. i'll tell you in a second. oil settled up more than 8%. we're seeing signs that the so-called decoupling of oil and. it's not in the markets, seeing decoupling on the 2016 presidential campaign trail. the bro-mance they be official over billionaire businessman donald trump and iowa caucus winner senator ted cruz. is that over? trump's bashing cruz's tactics in the hawkeye state taking it a step further and trump is going so far as to say cruz didn't win iowa. quote, he stole it. trump is ahead by 24 points in today's polls. bernie sanders has his own issues with iowa. he's making it known at this hour, he now believes he may have won the caucus without directly accusing the clinton campaign of shenanigans. and the 2016 field is shrinking, rand paul, you know he dropped out, there are reports that one more candidate may be about to do the same. we've got the latest live from the place in new hampshire. that country store is where it's all happening. our political panel is putting it in

>> it won't be an opec cut at this point. the saudis have taken a position which has been evident at the last several meetings that the market is going to have to self-correct. they seem to be acting very differently than what we've seen historically. but they're not looking to make a cut. what is going to happen, or really the two issues one is demand/growth, the other is sbl supply. all 81 companies will contract this year. in the first in years we'll see that. no matter how you play with the number there's going to be a gap between demand and growth and contracting. the question is can opec make up that supply. >> the ripple effects. i pay less at the pump for gasoline. what do you do with that? >> what do you do? >> let's talk about that. >> it's the tie. >> fancy tie for sure. are we going to see analysts out there, including bank of america has said this is one of the biggest wealth transfers, right? between oil-producing countries to consumers themselves. is there any benefit overall to economies because like you said

and the leading non-opec producers. there's always lots of talk about it. often you see a reaction in prices to that talk and speculation. but it is very, very unlikely it will happen. so we are going to continue with the underlying surplus of supply over demand that we in the iea are seeing for the rest of 2016. >> as supply continues to appear to be the chief issue, but when you look at what's happening in the global market space, fresh fears of recession in several parts of the world, is it possible that demand could weaken even more than many expect? >> that's possible, yes. obviously we're going to have to wait and see if the turmoil that we're seeing this week is a wobble or it turns into something rather more fundamental. obviously if the global economic outlook or the sentiment does turn, then clearly there must be risks to the strength of our oil demand forecast. for 2016, we see oil demand going up by about 1.3%, which in terms of recent history is pretty respectable. but there must be some danger to that. wer

six came from not opec, six came from opec. we had pretty high prices, 2012 we had historically high sustained prices. maybe not the peak level that was reached in july of 2008 but it was very high price. so two very different outcomes the one in in low oil prices them when india and high oil prices likely will be interesting to look at what does this say about what might happen in 2013-2025? we had the outlook for demand. again i don't know, it may be too strong. one thing i noticed, at least we have a plus one on oecd demand, and the last two periods it was negative but okay. it is what it is. we have an overall demand of increase plus 12, plus 13. then in this picture, and really the only difference is we had the non-opec supply growing by 10 to 15. really all we get there was 10 or 15 on barrels a day. but we did there was carried two different versions of the u.s. picture to get that spread to two different views. and then look at the implication i guess what's often called the call on opec. do the math, we ended up with a

countries and non-opec countries. the uae oil minister said absolutely nothing new. that has always been the position of uae, of the saudi's. if you cut, i will cut. i will not cut if you don't cut. they are in this mexican standoff. nobody wants to cut production until everybody agrees. this is what i heard from the ceo of post left -- of rosneft. we will cut if the saudi's cut, the brazilians cut. those are countries where the state controls the oil industry. shale producers, you tell them to cut, no one is going to cut. he said iran, is iran cutting? they've been -- imagine the mexican standoff. these guys have been in jail. they just got out. everybody has their guns out and they are being told to walk away. jon: really, the story is state versus private actors. on,'m hearing this going i'm wondering if it is going to gain traction. that is great news for me. i have decisions to make based on profitability. the state versus private scenario -- about how italking would be crazy for the iranians to cut production. t

iran mocking opec and creating big headaches for our stock market. how iran's about-face on an oil price freeze is jerking the chain of the markets and your money and national security. former assistant secretary of state is with us with middle east expert walid phares who says iran has a plan and we better try to for will it now. growing up, we were german. we danced in a german dance group. i wore lederhosen. when i first got on ancestry i was really surprised that i wasn't finding all of these germans in my tree. i decided to have my dna tested through ancestry dna. the big surprise was we're not german at all. 52% of my dna comes from scotland and ireland. so, i traded in my lederhosen for a kilt. ancestry has many paths to discovering your story. get started for free at ancestry.com. liz: breaking news, the fact that we are up 36, we were up 37, that would be the session higher after being down close to 300 points we had a market whiplash where we were across the board and right now we are green across the screen. the s&p up 6, the nasdaq has be

could be in the hands of iran is opec leaders meet in tehran. to push the country you will have been a miss from that meeting. oil prices 20 $9.80, a gain of 2.5%. jo: a decade ago the filibuster one of george w. bush. lauren: and a privacy versus terrorism case, apple ceo tim cook declaring apple will fight a judge's order to help the fbi hack into the encrypted iphone of the san bernardino killer. we will have the story. lauren: this type did not win the prize at the westminster show. welcome to "fbn:am" the latest breaking news and what to expect today i had. jo: apple ii hack into an encrypted iphone in the december attack in san bernardino, california. apple ceo tim cook says this moment calls for public discussion of when are customers and people around the world, around the country to understand what is at stake. because the government ordered dangerous because apple is being asked to create a backdoor around the iphones encryption. he says that would be an unprecedented step that would threaten the security of customers worldwide. farouk

opec is one bright spot when it comes to equities rising. no doubt about it, there is fear in the air. it is not 2008. certainly a sense things aren't so good. what is going on? we have a slew of things come together. fear about european banks being one of them. record low oil prices down to a 13-year low. concerns about earnings and guidance we're getting from major corporations in this country. a global slowdown. what's going on in china. what about the fed? one word i heard about the fed on the floor today, one word they used, useless. they say that the fed is like being in a plane and pilot doesn't know how to land it. also the talk about negative interest rates. they're saying are you kidding me? it doesn't work anywhere else. it is not working in europe right now. why isn't even on the table that janet yellen talked about? you mentioned gold. a massive move into gold. also 10-year treasury down at 1.58 to 1.6. that gives you a sense of fear in the market right now. not one thing in particular but a belief what can the central banks do

we get one opec headline citing a random energy minister and go up 160 points. what do you make of these markets? >> look, volatility is obviously the name of the game. i look at it and say, you can see how oversold we are from a standpoint of how much we rallied off the headline alone. we were in a position today where it's been more macro and etf selling. they have sold what they needed to sold and derisked to some accident to where they need to be. now what we're seeing is a buyer's strike. on our desk in particular, we've been busy the last several days. today we're relatively slow. not seeing buyers defend the positions because of fear. you see the headline overnight and banks are still extremely sensitive here. but you can see what one headline can do in a very oversold market. we seem to hold a level, 1810, held that pretty well. and i think you can see a massive snapback rally here just on the fact that we are completely, completely oversold. the negativity is extreme. >> it is extreme. do you believe and agree with david that we are massively oversold.

we are watching oil prices very carefully after the news out from opec. julie hyman from the market desk has the latest. we are seeing stocks come off the lows and it has to do with oil prices. the nasdaq in particular only down a half percent now. earlier comment was down more than 300 points, and take a look at here. i have looked at the s&p versus oil prices today. oils are in yellow and s&p is an white purity see a lot of as theyty in oil prices close at the lowest in 12 years before seeing a big lake upward here that coincide with a big leg upward in stocks. the wall street journal reported the energy minister of the united -- said opec is open which caused some kind of talk on production cuts. also that non-opec nations that will see production there go down by a hundred thousand barrels per day. day.s still lower on the to be clear. it is just the upward like we saw. here is the five-year in oil. i mentioned a 12 year low. in last five years, we have seen an enormous decline in the oil prices. it has been interesting to say the least, the correspon

they've also said there is no plan for a meeting of non-opec and opec members in the immediate future, but they'll be looking at additional steps in the coming weeks. we know the venezuelan oil minister is due to meet with officials in just a few days. back to you. >> all right, nancy. >> now let's get to today's trade of the day. the chinese stock market higher after being closed last week for lunar new year. our data team crunched some numbers to find out which u.s. stocks have the most to gain. well, the fxi, which is the large cap etf for mainland china, when it does rally, expedia, priceline, apple, and mastercard all rose. for more, go to cnbc.com and check out cnbc pro. seems like some sort of high beta nasdaq names might be the way to play the inflation trade. >> when we come back, highlights from last night's grammy awards. the winners, the losers, and the moments that everybody's going to be talking about at the office today. but first, as we head to break, here's today's weather forecast from the weather channel's chris warren. >> sara and mike, early on today, it's going t

and non-opec members. the report comes after russia said it was open to a meeting if there was consensus. the are seeing 9% gains now since wednesday here. her next guest says, in his 40 years in the oil business, he has never seen it as bad as it is today. he is a former energy adviser to iran's energy minister. he joins us live. good to talk to you. what you make of this back-and-forth oil price? is it beyond fundamentals? an impossible task. you cannot negotiate with u.s. producers. that is going to take until the end of the year. year.d of this thee is no point for meeting except as publicity. think they may be willing to do a cut now? >> it will fall by itself. have promised to cooperate but never have. they want to see of they can get points from the other side. no one believes they would deliberately cut production beyond what was going to happen anyway. you vonn: do you see any sort of award dated cut or does it make sense? the time has shrunk so much in the last couple of years. forakes -- it is e

opec to finally do something? >> i think if there's got to be more wreckage globally. we are starting to see it. starting to see the dividend cuts and cut dbacks and -- >> the saudis aren't satisfied with the level of pain inflicted to this point? >> in. >> that's when you're saying, right? >> no. you haven't seen nothing yet. >> not accomplished yet. there's no bankruptcy. >> dividend cut ice the oil production's fall that we saw from last year has plateaued. it's 9.2 million barrels for 5 months even with the plunging rig count and today it turns out the oklahoma folks underreporting to the tune of 100,000 barrels. >> why wouldn't the refiners be a screaming buy? >> there's two phases. diesel glut and huge gasoline glut building. >> differentials pretty hard. >> the winter grade now moved out is going to just be gibb away. i think in the next few weeks. >> without a meaningful production cut, can you not call a bottom? is that the definitive signal that, okay, that's it? >> yes. well, i think -- my target is 18.

liz: you got to listen to us, not opec. jeff flock in the fits of the cme where, u.s. crude is plummeting. market's not believing them known, right? >> pretty much not. i'm over in the s&p pit, liz, because usually stocks and oil have run in lockstep. stock's up, oil down, it was up early, if you look at the-week chart, you can see the blip up earlier in the day where there was hope about that meeting. as high as $31.53 before we closed down to $29.04 higher in the after-hours, a little bit. put some numbers behind what you just said, reality set in, that's why the price came down, take a look at the price production numbers for opec in january. up 280,000 more barrels, freezing at january levels, increased production in january to 32.5 million barrels a day, amazing amount. russia, as you said, all-time record production in january. in 2015, they cranked out 10.8 million barrels a day. we got way too much oil but the market as you know, liz, every time we get an agreement or meeting or alleged agreements, the market does for a time jump higher, and i would say the pos

>> well it is significant because the russia is the largest non-opec oil producer and we have not had anything from other non-opec oil producer and voices of norway and mexico and other countries that used to be in the non-opec group are completely absent from the current discussions. >> so to summarize then you suspect then there is no change as a result of this meeting? >> well, to be honest with you i think it does have a little bit of positive outlook that the dialog is going to continue, the market is going to be careful about its direction and it doesn't mean that prices are going to go up significantly but it also may not go down significantly so we have to wait and see how things play with the other producers. >> okay, very good to speak to you and thank you very much. >> thank you. >>> still to come on this al jazeera news hour calls for the president to step down, opposition supporters in the democratic republic of congo demand a strike. >>> in havana you can look around for a construction site and can it keep influx with tourists and what cubans are hoping for and the chall

how much more is opec to blame? they're down now of over 300 points. -- as i've dow is now up over 300 points. ♪ betty: welcome back to bloomberg markets. it is not a time for the options insight. ramy: thank you. scott, thank you for joining us. good friday to you. right now we are at session highs. the dow and the s&p breaking a five-day losing streak. this is after chair yellen was speaking for the past two days. today, there is a turnaround, can you explain that for me? >> this is a shock to everyone. especially watching the order flow yesterday that was out, the public was coming in buying protection. there are two things that is market doesn't like. uncertainty and confusion. that is what the market got out of her testimony. we had to the rally for the end of the day, and especially with what we saw coming out of asia, we would've thought that today would have been in a down day. but you find the oil rally. ramy: i wonder if this will continue into next week. what do you think might be happening as we head i

this is significant because it is the first time in 16 years that opec and non-opec producers have agreed to potential coordinated action to try to prop up prices. it is contingent on several other countries joining. the spotlight shifts to iran where producers will meet and try to lobby that iran join this plan. seen as the big barriers. they have been explicit the last few weeks that they want to .oost production, boost exports it seems very unlikely they would join this plan to freeze output where it is right now. they want to boost production as much as a million barrels a day. the big risk in this that iran will not join the plan. about fourre talking major players. what happens to other producers if we see these coordinated freezes or a supply cut? aaron: even if there is a coordinated freeze or a supply cut after that, there is another risk with u.s. shale producers. they will not agree to any of these provisions. they simply respond to price. if you see other global producers limit production or even supply cuts, there is a risk that u.s. producers will increase production. u.s. s

saudi arabia has in the past spoken about, that they are coordinate among opec members and non-opec members. that is the problem. coordination. if you cast your mind back to the 30 million barrel quota that they once had, and none of the producers actually stuck to that. there are also doubts about whether russia, even if they wanted to cut, whether it there infrastructure can do that and they can go about that. we also had a ceo saying they would defend traditional markets and expressed doubts about the possibility of a cut. iran,so have a run -- starting to ramp up production. cut,say they will not until they get back to the pre-sanction level exports. you have all these factors in play. it is positive there is a meeting saudi arabia was at. whether anything was -- will come out of it remains to be seen. angie: how sustainable is it? we have been talking about it to death, where low prices at some point has to curb output. reporter: we have been talking about it, yet we have not seen it. most have thought the cuts would come, but it has not happened. the outlook is perhaps one of two, we

so far, opec has refused to cut its official opec quotas and it >>> despite another slump in the price of oil, the dow gained 222 points and s&p rose 30, nasdaq finished 98 points higher. >>> united states and cuba agreed to resume scheduled air traffic for the first time in more than 50 years. the new deal could mean as many as 110 flights a day and it would possibly begin this fall. late in 2014 the u.s. and cuba announced they would start normalizing relations. >>> wi-fi provide go go is hoping to get out of its crack. american says go go hasn't kept up with technology and there are faster, more reliable, and less expensive options. the ft. worth star telegram first reported on that lawsuit. american says reliable internet is one of the most reliable factors for customers. >>> youngsters very own tesla model s. version of the battery-powered sports car costs $499. the target driver i i age 3 to 8. the miniversion of tesla has lithium ion batteries and working trunk and can go more than 6 miles per hour. the cars will start shipping in may. where were these when we were kids? >> that

and non-opec members. this according to a report from iran's oil ministry news agency. meanwhi meanwhile, a couple major energy companies posting some results overnig overnight. >> staoil announcing it will cut capital spending to $13 billion this year from nearly $15 billion in 2015. but it's keeping its dividends steady. another theme there, sara. many of these oil ing to preserve that dividend. statoil ceo speaking to our colleagues earlier this morning. >> that's a very important part of our message today. we're preparing ourselves to invest in the highly attractive port foe yoel. actually, we've taken down the breaking prices for the nonsanctioned portfolio that's up for sanctions from around $70 per barrel to $40 per barrel. we're preparing to invest and have the financial capacity to do that combined with maintaining a dividend. >> asset prices have been coming down in value. it will be interesting to see whether or not certain large players can capitalize on that particular move. >> a lot of people

it is a rare deal, the first between opec member and a non-opec member, russia. patty, markets initially up on news of the deal, but not so much now. >> that's right. because there is a contingency in this deal that you could literally pile an oil tanker through, and that is that other producers have to agree to freeze their output at january levels. and that's a non-starter. iran has already announced that their plan is to ramp up their production, to recapture the shire of the oil market that they lost during sanctions. iraq as well. iraq is broke. it is also going to be loathe to freeze their output as well. so for that reason alone when you take a look at that contend againsy, it's like come on. >> how long can saudi arabia and russia stay with this deal? >> okay. so when you take a look at the saudi and russia economies. they both have a cushion in terms of foreign reserves, and they both have foreign cash reserves to help them weather this, but the diplomatic push for this deal was really pushed by venezuela, because venezuela's economy is crumbling right n

we are at $30 overall, but there has been disappointment about what the opec countries and non-opec countries are willing to do to reign back in supplies. c has been increasing their market shares. there are concerns there. what will happen with iran and iraq. risk aversion is playing into some of the usual concerns. gold is up 9/10 of 1%. rebound ase the yen well. the dollar is down and the yen is higher. let's look at the debt side of the equation as well. we have seen yields come back down. fed minutes are up today. they are pushing away from a rate increase later in the year. germany yields are coming down two basis pionts. how is that opening on the back of those numbers, up almost 5%? they are restructuring the business. a big shareholder is selling, gbo. storebrand is up 1.6%. they promise dividends, but not until next year. guy: but that you what the flow looks like in europe this morning between the sectors. the market is definitely on safer ground this morning, were looking for safety. industrials and health care are all rising. energy financials are down at the bottom. you can see

they are the strongest allies to saudi arabia and in opec production war. so when they did the proposal you know behind the scenes they're getting very close to their point of pain. the other thing that they're talking about is at least a production freeze. that is putting back in the opec production cap that doesn't exist right now. back to you. maria: that is interesting. i wonder what you guys think about this? if you thought a production cut coming from opec, okay, that's going to help a little but you still have enormous amount of oil supply in the market, right? iran, america, churning out new production. what do you think? >> at a lower rate though. most of these frackers, not old wells in texas, most of the frackers need around 50 or $60 oil to break even. >> it is lower in some instances. really all over the place. 30 bucks. >> but the point is at current levels a lot of wells in this country are not profitable. maria: right. >> so as it goes up a little bit that will bring them on. but if it hangs around these levels that production will fall off.

oil and opec. energy expert on whether to believe the hype or fade the rally. he's live on set with us today. buy the bio wreck. that's a head of health care says to do. he's live with the stocks to own am

we did get hope that opec members and nonopec members could be coming together. but others casting down across the area. that's it for street signs. i'm nancy. >> and it is the weekend of love, all right? we will see you on monday. bye. ♪ if you have moderate to severe ulcerative colitis or crohn's, and your symptoms have left you with the same view, it may be time for a different perspective.

could opec and non-opec parts that are adversaries mean that they could agree to more. it could be. remember who is staying out of this, iran and the u.s. the saudis won't cut if iran doesn't cut. u.s. producers have lowered costs while suffering, they're still in the game. $27.5 was a pivot point over the last two weeks or so. if we stay above there the market stays in positive range. let's say the upside, there's tremendous resistance above this market and anywhere about 31.5 and 31.80. that's a number that will take some work for the market to get above and hold. >> reporter: supply has been part of the story and forecast hasn't changed for global demand. there could be a caveat coming that's seasonal. >> it could draw down stock, natural gas stocksks. if we have an early spring, it will be driving season coming in. >> reporter: for the moment the market is at a standstill. the freeze heard about today could keep it from moving lower but it's not enough to drive it higher. >> now to patrick for more on the global markets and today's stock market rally and the rally around the glo