FIRST AIRED: December 6, 2018

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Transcript

00:00:00
>> These guys have a big decision to make. Oil producers gathering in Vienna, Thursday. Saudi Arabia pushing forward cutting output of up to 1.5 million barrels per day. It hopes that will shore up prices that have slumped by almost a third since October. Reuters energy editor, Dmitry Zhdannikov is at the OPEC summit.
00:00:20
>> The trouble is that it's not a very easy decision to take. As many people say, agreeing a cut will be much easier than announcing it. And the reason for this is called Mr. Trump. Trump has put OPEC under tremendous pressure not to cut oil output. Because he wants producers led by Saudi Arabia to support the global economy with lower oil prices.
00:00:43
>> This man could mean the talks drag onto Friday. Russia is one of the world's largest oil producers, though it's not in OPEC. And Saudi Arabia wants Moscow to make cuts, too. On Thursday, Russia's energy minister was thought to be getting his instructions from President Vladimir Putin before talks with OPEC the next day.
00:01:02
Trump's position also fiercely complicated. While he may oppose a cut, he's also been very supportive of the Saudi regime.>> President Trump has given tremendous support to Saudi Crown Prince Mohammed Bin Salman. Despite calls from US politicians to impose sanctions on him and Saudi Arabia for the killing of journalist Jamal Khashoggi.
00:01:23
Further complicating things is of course, the so-called NOPEC legislation which would allow the United States to sue oil producers for price fixing.>> Oil prices falling again Thursday, as traders started to worry whether Russia would block a deal. Most though still betting that it's less about whether to cut and how much.