CONNELL: 807 BILLION.
GERRI WILLIS, THANKS.
OIL PRICES SOMETHING INTERESTING
TO WATCH AFTER BUENOS AIRES AND
THE HEAD OF OPEC OIL SPIKE AND
UNEXPECTED PRODUCTION CUT BY
MORE THAN 3% TODAY.
52 POINTS 65 PER BARREL.
HE ALSO HAD THE NATION OF QATAR
COMING OUT AND ANNOUNCING A PLAN
TO PULL OUT OF OPEC DAYS BEFORE
THE MEETING IN VIENNA.
LET'S BRING PHIL FLYNN ON THAT.
IS THAT IMPORTANT IS GETTING OUT
OF OPEC?
>> IT IS AND IT ISN'T.
FROM AN OIL PRODUCTION AND POINT
NOT REALLY.
ONLY PRODUCING 600,000 BARRELS A
DAY.
THE REASON THEY'RE LEAPING AS
THEY FEEL THEY HAVE NO SWAY IN
THE OPEC CARTEL ANYWAY.
IN THE PAST, QATAR USED THEIR
INFLUENCE TO BE THE MIDDLEMAN,
TO TALK TO SAUDI ARABIA, TALK TO
NIGERIA TO BRING EVERYBODY
TOGETHER.
NOW WITH THE NEW CROWN PRINCE
KING SALMAN DEMANDING EVERYTHING
IN THE CARTEL, AND THEY FEEL
LIKE WHAT THE HECK ARE WE DOING?
YOU NEED US MORE THAN WE NEED
YOU.
WE'RE GOING TO FOCUS ON NATURAL
GAS NUMBER WHICH IS WHERE THE
REAL PREDICTION FUTURE IS.
GOOD BY OPEC, HELLO NATURAL GAS.
>> PUT THAT IN THE REARVIEW FOR
A MINUTE.
LET ME DO ABOUT MOVEMENT TODAY.
TO GET BACK UP TO 52.60.
WHAT'S GOING ON?
>> I THINK IT'S TWO THINGS HERE.
ONE THING GOING INTO THE WEEKEND
WITH THE MARKET UNCERTAIN
WHETHER OPEC IN RUSSIA COULD
COME TOGETHER TO SOME KIND OF AN
AGREEMENT ON A PRODUCTION CUT.
THEY DID.
THEY GOT THAT DONE.
THIS WOULD BE ENOUGH TO GET THE
MARKET GOING.
I ALSO THINK YOU CAN
UNDERESTIMATE THE IMPACT OF THE
TRADE TRUCE WITH CHINA.
THAT'S ONE OF THE CONCERNS ON
OIL PRICES IS NOT JUST ABOUT THE
SUPPLY.
IT'S ABOUT THE DEMAND AND WITH
THE DEAL THE DEMAND SHOULD BE
BETTER.
CONNELL: DIDN'T GET ANYTHING
DONE BUT IT'S MORE PROGROWTH.
THAT'S WHAT MAKES THE GLASS HALF
FULL VERSION OF ALL THIS.
HE DON'T GO FROM 10% TO 25% YOU
CANNOT PROGROWTH POLICIES.
A LOT OF THAT CAN SLIP AROUND
HIM ARE BACK WHERE WE STARTED.
>> FISHER CAN AND THAT'S ONE
THING YOU HAVE TO LOOK AT.
THE OTHER THING I WILL SAY IS WE
DID GET A REPORT CHINA'S
IMPORTING REFINERS ALREADY
STARTING TO BUY THE U.S. SOIL
AGAIN.
ONE OF THE THINGS LOST IN ALL OF
THIS TALK AND CONCERNS ABOUT
CHINA WAS THE FACT THAT THE U.S.
ENERGY PRODUCERS EXPORTED MORE
OIL AND OIL PRODUCTS THAN THEY
EVER DID BEFORE LAST WEEK.
WE KEEP HEARING ABOUT THE
