it was just a bit higher in israel, the most in nigeria. tell us what you think about those numbers and that shift. >> i think we have always to look at two issues. one, i think it's positive to see that overall, people still feel torture is something totally wrong, and i think more than two-thirds of people, including people exposed on-- you know, on the daily life at what is happening in war, still feel torture is absolutely wrong. what i found interesting is-- and that's the other issue-- issh when you ask more specific questions, it's true. you see a growing tolerance in specific country. you mention nigeria, israel, but also the u.s., when it comes to torturing an enemy combatant to get information you see people are more open to that. i think maybe one of the reasons is because people feel on that case it will maybe help to save the security of the country. this is what they've seen in the media, right? if i look at the last 10 years, so many times where you torture the enemy to get information. and on the other hand, we know that tor

its members agreed to limit output for the first time in eight years and an extraordinary meeting in nigeria. the price of crude rose to about $50 a barrel. many analysts weren't convinced that the group's members would actually agree to specific reduction targets. opec members have agreed to reduce our oil opec. we asked what's behind the deal, an expert on political economy in the middle east. he is the chief senior researcher at the institute of developing economies and affiliate of the japan external trade ororganization. >> i think outcome for opec and its members. because they achieve the production. from saudi arabia they need a lot of oil because they are suffering from the financial difficulties that they need more and, also, saudi arabia plan to make up ipo of oil company aramco. and, also, for iran. iran needs a lot of oil. so those reasons, all of them, the outcome of the oopec meeting. crude oil prices may be affected something to boost the price. maybe the crude oil price oil futures will be higher more than $500 per. maybe to the 50s. but 60s maybe a little bit because the hig

some of the countries that are in a weaker state at the moment, nigeria and libya. that makes it -- that makes noncompliance slightly more likely. five of those countries can manage to make significant production increases. others in opec would have to make a big cut to actually hit the target they were aiming for. francine: james and geoffrey, thank you so much. next half hour. next, china could be facing a grim new year's eve. we will also speak to jonathan and get more from geoffrey. we will talk about china, renminbi, and whether a u.s.-china trade war is on the cards. ♪ . francine: let's get straight to the first word news. russian investigators are studying the flight data recorder from the military plane that crashed into the black sea on sunday. 92 people were killed. it disappeared from radar shortly after taking off. recovery of the remains continues. toshiba has fallen by the david limit after forecasting a loss. the right downfall is the acquisition of a power systems operator westinghouse units. arguments over new nuclear projections which are a year

we will see how nigeria and libya are able to come into the market and increase their production. we've got these other non-opec countries that we are still trying to bring into the fold. these are some issues that will remain to be seen how they impact and how those implemented along the way and how compliance goes. we still have those issues outstanding to see how they impact the market. yousef: thank you. to continue that discussion we are joined by the founding partner of morton french consulting. thank you for joining us. coming the key surprises out of this opec meeting. iraq or saudi arabia taking on more than anyone expected? guest: the fact that there was a deal and it was stronger that anyone was expecting, and iraq after being difficult raising objections has indeed agreed to cut quite significant ones. the effective exemption of iran, there are no real standouts. everyone is cutting equally. yousef: this is opec. you can do that on the bloomberg. it shows you the state of play when it comes to the individual members. it shows them on several charts as well. let me brin

two days of mourning now observed in nigeria after the collapse of a church killed 50 parishioners in the southern city over the weekend. it happened during the dedication ceremony for the church which was still under construction when the building fell apart without warning. the steel girders gave way before the roof pancaked on the pews. the governor was inside the church at the time and ordered the immediate arrest of the contractor. >>> in cairo, 25 people dead and dozens more after a bomb blast at the coptic church. this tore through the coptic cathedral which is an historic structure. >>> donald trump and the cia at odds. the president-elect says he doesn't believe the report on the russian hackers helped him win the presidency. the bipartisan response coming up next. >>> did russian hackers help donald trump win the election? the cia says yes. the fbi says maybe. and donald trump says he does not believe it. >>> dozens dead in istanbul. two large explosions leaving more than 150 people injured. welcome back to "early start." i'm john berman. >> i'm alison kosik. it is 30 minute

we still have that low down toward the south, even skirting northern coastlines of nigeria, as it drifts off toward italy could bring severe weather. to the north a separate low moving along the northern edge of this high across parts of the scandinavian peninsula. even there into scotland, northern areas of the british isles, you're going to be looking at some fairly rough weather. london on the other hand, you might be seeing fog out there. a high of 9. 10 on the chilly side, car conditions. but it is going to remain rather cold here on your tuesday. if we take a look here across northeastern asia we do have a cold front diving in across northern areas of japan. and i know if you are in tokyo, sunny skies out there today. temperatures are even a little bit above average. that's thanks to a warm front that actually moved through on monday morning. things are going to be cooling down once this area of colder air does dive south. it's already bringing faiy rough weather in western areas of hokkaido and northwestern tohoku. even some blizzard conditions out there for a few locations. espec

we speak exclusively to nigeria's oil minister ahead of this weekend's key meeting. how much can opec count on the support of non-opec countries? this is bloomberg. ♪ manus: welcome back. you're watching daybreak. a shot of berlin, berlin waking up. are bid.re bid, stocks production .3 of one percent. the market was looking for .8 of 1%. less than forecast for the industrial production figures in germany. fairly nice day there. >> airbus has been selected by the canadian government to replace a search and rescue plane. there is a deal estimated at two point 6 billion u.s. dollars. announced tomorrow. they referred questions to the government while the canadian defense ministry declined to confirm or deny. they did not immediately respond for requests for comment. to swayg a final push investors to back the lender. according to people with knowledge of the matter, executives are considering options including a limited form of state help as well as an extension of an ecb deadline to replace its 5 billion euros increase. that is if the political vacuum chills to my an

the petroleum minister of nigeria there. let's get the bloomberg business flash. here's nejra cehic. nejra: a monday has agreed to buy pioneer global asset management from unicredit. will pay about 3.5 billion euros in cash. willurchase of pioneer make the french company the world's eighth largest asset manager. phillips has agreed to sell a majority stake in its light in component unit. the deal values the business at $2 billion. today's agreement comes after an earlier sale to a consortium led by a chinese buyer fell through. 21st century fox and sky executives have worked through the weekend to nail down file terms -- final terms of a takeover deal. according to people familiar with the situation, rupert murdoch and his son have been involved in the discussions. while the preliminary agreement is backed by sky's independent directors, some issues remain under discussion. representatives for sky and fox declined to comment. bill gates and the world's wealthiest individuals have revealed a new $1 billion investment fund dubbed breakthrough energy ventures. the fu

switch focus from stimulus toward curbing financial risks third in boost to production in november and nigeria, libya and angola all pumped more oil, rating total output to 28 million barrels a day. opec members and independent producers to increase output ahead of the cuts to ensure no loss of market shares. pursuing aups football club has failed to meet the deadline for a down payment. they will -- they agree last week that the money would be transferred on monday, with march 3 the date for completing the sale. the agency said the money was not paid sign oh europe did not have it in place when the big milan. the mission will be a final sweep of deep ocean road means that my called the remains of mh 370 and the 200 on board. local media say that if the plane is not found in one of the trenches, the search will be called off in january or february. global news 24 hours a day powered by more than 2600 journalists in more than 120: -- countries, this is bloomberg. let's have a look at what is going on market wise. what is the flavor of the day? >> not a lot of conviction and markets today. we ar

we will see how nigeria and libya are able to impact their production. we have other non-opec countries we are trying to bring into the fold. these are issues that will still remain to be seen, how they impact the cuts. those issues outstanding to see how that impacts the market, yousef. yousef: thanks. our man on energy. we are now joined by a founding a consultingrto company. thank you for joining us. surprises, key perhaps coming out of the opec meeting. iraq or saudi arabia taking on more than expected? >> there was a deal and it was stronger than most people were expecting. i think it is interesting, there , effectivetion exemption of iran. mostbody is cutting 4.6% exactly so it is evenly distributed. this amazingp function. you can do that on your bloomberg. it shows the state of play when it comes to individual members, how much they have been pumping. it puts that up on several charts. is this cut enough to make a meaningful impact? yes, we have seen energy prices surge. how sustainable is this? >> i do not think is going to be very sustainable.

. >> taking a turn to this horrible story out of nigeria, 160 people killed in a church collapse over the weekend. the associated press reports hundreds were inside the bible church international saturday when the roof caved in on the worshiper. they were gathering for a ceremony to ordain the church's founder as bishop. construction of the building was rushed ahead of that event. >> clom been plane crash survivor is still recovering from the deadly crash that left all of his teammates and two others dead. the remarkable news is that he has no idea the crash ever took place some two weeks later. doctors and family have decided to withhold the tragic news because they're concerned about the emotional shock it could have on his recovery from head trauma. >> well, it's a solution many of us use when dealing with relationship problems. retail therapy. that's what ikea is calling their new ad campaign. they have reniemed some of their best selling products. here's an example. he can't say he loves me. okay, so you search for that. that's a magneting writing board. and some of the other pro

nigeria and libya boosted but are not bound by the cuts as they recover from damage. they work together to remove terror related content. facebook, microsoft, twitter, youtube criticized for not doing enough. .hey will be hosted a unique digital fingerprint for each piece of content. will be restored. and one of the most powerful regional leaders. says she steered the state and becoming an economic powerhouse. critics accused her of corruption. before the court cleared her. news 24 hours a day powered by 2600 journalists. this is bloomberg. >> prepping for their final meetings of this year. they do not do much about the economic landscape. i guess that's an understatement. how about next year? strong economic reports, u.s. services as the year draws to a close. let's look at the isn services. the blue line, you can see, is the services index is up to 57.2 for 55 in change. the white line is the business activity. services are definitely picking up. he signaled the pace will still be gradual. i would favor making monetary policy somewhat less accommodative overtime by

yes, and also libya and nigeria, coming out of a depressed position. they will be allowed to increase. there will be a lot of complaints. when we saw that announcement, in the lead up, they have finally made this agreement, but they cut at record levels. russia was producing more than 11 million a day, something like that. will it make a huge difference? with demand increasing, lower prices equals that it is cheaper, so demand growth is good. how long will that last now prices are rising? unless there is a recession in the west, we will see a decent amount of growth. it will increase the wiggle room that some of the countries have. yes, the us is also producing a lot of oil at the moment. the worry they will produce even more. it will be fracas when they come into it because of the price, making money. they can switch it on pretty quickly? there is a finite limit to that. with a bit of compliance and demand and great, i think the oil price will reach $60. what are your predictions that 2017? as i say, $60 brent. no $100 mark? unless there is a cataclys

monitoring of the members who these cuts,rom nigeria and libya, as well as monitoring what the market is doing outside of opec and the non-opec countries that joined in the deal, how much u.s. shale oil is coming on. is russia keeping to its cuts of 300 barrels of a? anil dash barrels a day. day?0 barrels a it's only to six months. that's the only binding part of it. we are looking to see if they can expand that for a full year. it will have a much bigger impact. it will surgically or the inventories off. -- it will start to clear the inventories off. thank you so much for joining us today. coming up, the fed is looking at three rate hikes next year. how will that affect economic policy here in the middle east? we are going to discuss that and more. this is bloomberg. ♪ tracy: welcome back. you are watching bloomberg markets middle east life from dubai. a quick round up of the main stories from around the middle east. setevacuation of aleppo is to resume after a new deal was reached between rebels and pro-syrian government forces. both agreed to restart the evacuation of the east of

highs: 44-49 winds: s 5 mph a man is behind bars in nigeria after a church collapses on hundreds of worshippers over the weekend. at least 160 people are confirmed dead and dozens more are seriously injured. witnesses say the building's iron roof collapsed during a service on saturday. nigerian officials have launched an investigation into roof down-- and the building's contractor is now under arrest. the church was reportedly still under construction at the time of the tragedy. back here we're learning more about the two men shot late friday in woodbridge. the suspected gunman --mohammad sherdil... is still on the run. prince william county police are asking anyone who has seen him... to give them a call. investigators say the two victims are both suffering from life threatening injuries. in alexandria-- we now know what caused a serious fire at the the woodlawn garden apartments over the weekend. fire investigators say the fire ignited because of a mechanical failure in a furnace flue. that's the pipe that exhausts dangerous gases away from the living spaces. the flames started in the attic..

the death toll is expected to rise from a horrific disaster in nigeria where the roof of a church collapsed on worshipers during a service yesterday. today the hospital director in the city of uyo said at least 160 people were killed after the roof suddenly gave way. some survivors said workers had been rushing to finish construction of the church. >> and finally tonight, the world's longest opportunity opened for business today in switzerland when a passenger made the trip from zurich to logano. took 17 years to build and cost almost $12 billion. trains will eventually travel through the tunnel at more than 150 miles an hour. that's it for pbs newshour weekend, i'm alison stewart, thanks for watching. captioning sponsored by wnet captioned by media access group at wgbh access.wgbh.org >> pbs newshour weekend is made possible by: bernard and irene schwartz. judy and josh weston. the cheryl and philip milstein family. the john and helen glessner family trust-- supporting trustworthy journalism that informs and inspires. sue and edgar wachenheim, iii. barbara hope zuckerberg. corporate fundin

libya and nigeria are places to watch in 2017. their output could swing up or down significantly by several hundred thousand barrels per day, in a matter of weeks, depending if the domestic uses -- use intensifies. i do not forget about oil production. countries, it will boost confidence among u.s. and other producers. title is about to rev up in 2017 as prices strengthen. there are factors we need to watch carefully in 2017. and likely, these events could of thethe efficacy opec-agreed cuts. some of the biggest discrepancies for 2017 that we are getting from the feedback among the movers and shakers in this business is what is happening in the united states. u.s. inventory data, forecast show a drawdown by 2.5 million barrels last week. how quickly can shale come back online with oil prices where there are at right now? shalehink for the u.s. area we have seen a production with prices in the mid 30's. if we look at the breakeven prices for most, most production-efficient fields in the u.s., they are really in the 40 to 60 range.

he recently returned from a trip to nigeria.

yes, libya and nigeria are coming out of a pretty depressed position anyway. they will be allowed to increase. there will be some choosing, but there will be a lot of compliance, i think. we finally saw that announcement, we have been talking about it for days and weeks in the lead up, they have made this agreement. but they cut at record levels. russia was producing more than 11 million a day, something like that. does it really make a big difference? well, demand is also increasing. lower prices means it is cheaper. that demand growth has been good. how long do think that will last, now prices are rising? unless there is a recession in the west, i think there will be a decent amount of growth, which will increase the wiggle room some of the country's health. the us is also producing quite a lot of the world us producing quite a lot of the world us oil. the worry is that with higher prices they will produce even more. the americans? fracking? they will come into it, and make money. a lot of them shut production when the prices got too low, but they can switch

yes, and also libya and nigeria are coming out of a depressed position. they will be allowed to increase. there will be some cheating, but i think there will be quite a lot of compliance with this. when we finally saw that announcement — we'd been talking about it for days, weeks, in the lead up — they have finally made this agreement, but they cut at record levels. russia was producing more than 11 million a day, something like that. will it really make a huge difference? demand is also increasing. lower prices equals that it is cheaper, so demand growth has been good. how long will that last now prices are rising? unless there is a recession in the west, i think we will see a decent amount of demand growth. it will increase the wiggle room some of the 0pec countries have. the us is also producing a lot of the world's oil at the moment. the worry is with higher prices, they'll produce even more. the americans, right? the fracas because they'll come into it once the price... they'll make money. they will shut production when the prices go too low, but

we will see how nigeria and libya are able to come back into the market and greece -- and increase their production. and we have these other non-opec companies we are trying to bring into the fold. these are issues that still remain to be seen, how they impact the cuts are now those are implemented along the way and how the compliance goes. have those issues outstanding to see how that impacts the market. yousef: thanks, anthony. anthony dipaola, our man on anything related to energy. we are joined by a founding of morton fish consulting, and we have the ceo of an energy company. let's start with some of the key surprises out of this opec meeting. direct, saudi arabia taking on more than anyone expected? it was a stronger deal than anyone was expecting and yes, they are being very difficult in the lead up to this, raising numerous objections, has agreed to cut quite significant one. there is no effective exemption of iran. for .6% is cutting almost exactly, so it is very evenly distributed. : i've pulled up this amazing function. opec go. it pulls it out on several charts as well. let me

but nigeria's anti—corruption agency says it's investigating eleven people involved in a syndicate to obtain the salaries and pensions of thousands of non—existent or dead employees. officials say the removal of the ghost workers has saved the government 600 million dollars. 2016 has been a dramatic year for turkey. on the edge of europe and the middle east and on the border with syria, over the past few months the country has suffered multiple terror attacks, an attempted coup, and just last week, the assassination of the russian ambassador. our turkey correspondent mark lowen has covered all of this. here's his review of the year. it has been perhaps the most turbulent year in turkeyjose mourinho history, from an attempted coup to the terror attacks to the conflict with the kurdish minority. this is the story of a traumatic 12 months. the backdrop has been the insurgency in the south—east. since the ceasefire broke down with the pkk kurdish militants, there has been tit—for—tat violence. the pkk have blown up soldiers and police, the state has attacked and imposed cu rfews.

shawn is driving the initiative to get a nigeria women's team on track. she represented nigeria in the 2012 summer games. >> i kind of had olympic fever again and so this was 2014 and the winter olympics was on. i knew quite a few track and field athletes who had transitioned into the winter sports. so i figured, you know, i think i could try this. >> reporter: but atagoon who is based in texas is ran into a sizeable obstacle. >> we don't have a sled right now and we are trying to get one. >> reporter: since launching a go fund me page last month, the team has raised more than runners. front to back. >> reporter: in the meantime, atagoon came up with a homemade practice sled called the mayflower. >> just went for two or three days straight drill and hammering and sawing this wooden sled together. >> reporter: the tale of the jamaican bobsled team a was immortalized in a movie. while it wasn't the inspiration to start a nigerian bobsled team but something she hopes to continue. >> these men did something very special and to be able to have, you know, every

. >> growing up in nigeria, i was inspired by wildlife. and japanese designs and all of that coming together -- the better the robot can do, the better it can interact with the world around it. there are things taken from nature. if you look at spider legs, they can change direction quite quickly. >> we are moving it around. why do we need a little carpet square? >> that is where we are building the world from. from trouble. -- rubble. >> they take it one step further by putting real-life robots into virtual game space. >> that is the robot taking a hit. it is a virtual opponent. >> i fight back? >> yes. gone will be the days of overlaying images. you should look at the world you are in and adapt to it. have one.ling us we >> yes. and getting ready for the next challenge. my robot does different things and interacting with virtual opponents and other robots. take it for a spin. we can have a battle. realityhe augmented function only works in single player mode. and actual robots can battle in real life. >> bring it on. [inaudible] >> we ar

of working in key roles at opec including at teen secretary-general and the oil and gas industry in nigeria is managing director at an acc and active at the unf triple s. and served on sustainable film. he's accompanied by dr. jorge arellano who is the energy specialist of the opec research initiative and he is laughing amid how i'd richard his name is going to present the world's oil outlook. mr. secretary-general welcome to csis. it's a pleasure to have you. [applause] good morning. i was just talking with my partner john hess that there is no better place to be at this time after all we went through from this summer until just a couple of days ago then to csis. i'm so glad to be here with my colleagues from the opec secretary. allow me to begin by thanking the csis chairman, john hamre csis president and ceo as well as my partner, john hess who is also a member of the board of trustees and to talk to an old friend, sarah for facilitating this visit. after my opening remarks i intend to invite mike colleague from our energy strategy department to take us through some of the key findings f

. >> growing up in nigeria, i was inspired by wildlife. and japanese designs and all of that coming together -- the better the robot can move, the better it can interact with the world around it. there are things taken from nature. if you look at spider legs, they can change direction quite quickly. >> we are moving it around. why do we need a little carpet square? >> that is where we are building the world from. from rubble. >> they take it one step further by putting real-life robots into virtual game space. >> that is the robot taking a hit. it is a virtual opponent. >> i fight back? >> yes. gone will be the days of overlaying images. you should look at the world you are in and adapt to it. >> so, telling us we have one. >> yes. and getting ready for the next challenge. my robot does different things and interacting with virtual opponents and other robots. take it for a spin. we can have a battle. >> now the augmented reality function only works in single player mode. and actual robots can battle in real life. >> bring it on. [inaudible

in nigeria and libya also boosted output, not bound by the cuts as they recover from damage to their oil infrastructure. vetof: russia and china the security council resolution demanding a seven-day truce in aleppo to allow humanitarian access to besieged areas. antigovernment forces have held parts of the city since 2012, but defenses have buckled since russia's intervention. on sunday the syrian army ordered rebel fighters to leave the city or be wiped out. you think 2016 has been a bad year for various s reasons, brace yourself. we have compiled a pessimist's guy just 2017 -- pessimists guide to 2017. david tweed has the story for us. who or what? david: trump right,? he was at the heart of what happened in 2016 as well. these are the unexpected things that happen -- brexit came in, no one was expecting brexit. trump's chances of being elected were pretty slim, according to most of the people looking at it. obviously they miss what they should have been looking at. what we have tried to do is look at a whole lot of different things that could happen in 2017. it's not a prediction,

niger nigeria's government says it will investigate. >>> a va hospital is reeling from a bombshell report. a findings that staffers mishandled the remains of a veteran, left him in a shower for nine hours. how the facility is responding and this. >>> we are touring the windy city. >> heavy snowfall hitting a chunk of the country. we'll cover the massive storm generosity is its own form of power. you can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. >>> now to the situation at a veteran affairs hospital in florida. an investigation has found the body of a veteran was left in a shower for nine hours and the staff tried to cover it up. we don't know his name. we do

witnesses say two young girls strapped with explosives blew up near a crowded market in northern nigeria. the blast injured 17 people. officials blamed boko haram. witness says the girl may have been as young as seven or eight-year-old old and in the attack on friday, two women suicide bombers killed 57 people. >>> a big sinkhole swallowed a walkway in san francisco. the rain coming could make the problem worse. >> new video of firefighters in canada rescuing a moose in new brunswick. the crews use action -- axes to give space for the animal. it is now on the loose. the news continues right after this. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75% skin clearance at 3 months. while the majority saw 90% clearance. do not use if you are allergic to cosentyx. before starting, you should be tested for tu

niger nigeria's government says it will investigate. >>> a va hospital is reeling from a bombshell report. a findings that staffers mishandled the remains of a veteran, left him in a shower for nine hours. how the facility is responding and this. >>> we are touring the windy city. >> heavy snowfall hitting a chunk of the country. we'll cover the massive storm >>> now to the situation at a veteran affairs hospital in florida. an investigation has found the body of a veteran was left in a shower for nine hours and the staff tried to cover it up. we don't know his name. we do know he died in hospice care in february. according to the report, the request to remove the remains to the morgue were not handled correctly so it didn't happen. once the staff figured out the problem, they allegedly lied about what happened. the hospital says it is retraining the staff, but is not saying whether anyone will be fired. because of confidentiality rules we might not learn more at this point and all this comes as problems continue to plague our va facilities across america and lawmakers and officials work

. >>> a two-day mourning period in nigeria after a weekend church collapse that killed at least 50 worshippers. the roof came crashing down during dedication ceremonies for the church which were still under construction. the governor was among the dignitaries inside. immediate arrest of the contractor and setting up a task force to figure out what went wrong. >>> president-elect donald trump has called the cia conclusions that russia possibly affected the outcome of the 2016 presidential election ridiculous and those working on the transition team are backing their boss up. joining us now is michael smerconish host of "smerconish." a contentious debate with sean spicer this weekend. here's a taste. >> i need to ask you an additional question, speak to the point that -- >> wait, that's not true. >> i'm also concerned, come on. i'm being fair to you. but i have to get a word in every once in a while. i'm also troubled by the idea that my president-elect, he's going to be all of our president, is already throwing under the bus the intelligence community with whom he's going to have to work on lif

nigeria has had plenty of problems with security issues. is a big part of it, interruptions on pipelines and attacks. theyo some extent and also, economically speaking, they expected contraction which has not happened. something there fundamentally. a good point about the political is sortbecause turmoil of the pendant on your perspective, perhaps it is just churn and people still got about that. we have a nice bounce. david: risk is not only one way, risk for the upside and downside. >> that is the story of the year , especially if we focus in the u.s. because this has been a year that introduce some of volatility people have not seen in a long time. january, we saw the market falling off a cliff which nobody expected in the first two months of the year which got people panicking and lean equities. and infleeing equities april and may they came back in, a big tray from january to june, defensive trading, we talk about that, the utilities, the staples. felt better people and moved into the cyclical sectors and we had brexit, which caused sh

but they were hampered by some events unfolding on the ground in nigeria. what happens over the course of 2017 when those three pep shuns to the deal, do they come back into the mix, are they also forced to stop producing at the same levels? >> remember when oil was driving the markets years ago before the financial crisis? we literally would see if the price of oil went up, you would see a direct market reaction. we're not quite seeing that at the moment, right? frnlg>> with trump we have beenn away from that. >> also things like inflation. we were talking about whether or not inflation is upon us or not. i'm argue it's not upon us. it will take a long time before we see inflation close to 2%. we're still at 0.4% in europe. if the price of oil were to move markedly higher, that inflation forecast must move higher. >> mario draghi has been dealing with the second round effects of low oil price for a couple years now. so there must be second round effects at some point kicking in for inflation in europe in 2017. >> a lot of rules are being thrown out the win

. >>> now overseas to nigeria are two young girls, aged 7 and 8, were used as suicide bombers. the attack happened at a crowded marketplace. no one has claimed responsibility. it is expected the islamic militant group boko haram is involved. >>> and significant gains in the battle for aleppo. pro government forces now control 98% of the eastern portion of the city including a neighborhood held by the rebels since 2012. the rebels lost more than 90% of the territory in just the last month. for the latest we turn to nbc's foreign correspondent ayman mohyeldin. the head of the aleppo security committee said the rebels have to surrender or die. how much longer would the battle last? >> the momentum is on the side of the syrian military with the milit militias. no doubt momentum has been on their side for a month with the russian bombard. of the eastern part of aleppo. they have gained so much territory within the last month, wrestling it away from rebel held territory. all suggestions on the ground is it will not be long before the syrian military is completely able and capable of

the wild cards that are exempt from the opec freeze and cutbacks specifically looking at libya and nigeria. both of them are far from their precrisis production levels. how much lower can this go here? >> the oil price? there is obviously a danger. we could see another subsubstantiate rble selloff that we saw substantial selloff. the key players have learned some very hard lessons and it has been very painful for them, the whole experience and therefore will want to be much more controlled about trying to control the oil price. anna: many people are watching what happens to the oil price. the central banks one of those groups because they are looking at what this has done to inflation. central banks have struggled to get inflation up to target and in many cases have failed. if we see oil prices going higher, this is perhaps not the kind of inflation they want to see. the e.c.b. talked about where their inflation numbers could go. $65 a barrel by 2019 and then lo and behold the e.c.b. almost makes their inflation target. >> correct. one of the things to bear in mind about oil generally is t

nigeria has another 20 cities that are going to have more than a million people, a million consumers. when i look at those demographic trends, economic growth trends, it is going to drive a lot of the large corporate and their behavior and i think that is going to follow and create a much more strategic dialogue on u.s. africa trade policy in some ways it is fair to say we are behind on this. as an investor i would say the chinese have bilateral investment treaties and i must every country in africa. the french, a number of european countries. i think a bilateral investment treaties in three or four countries across the 55 and most of them were negotiated in the 80s and most of those are still driven by extractions. for me i look at the top and i say what's going on at the bottom is driving the top. the bottom should be quite a bit. the other thing i should mention which maybe will sound a little bit out of left field is i think when we think about the sharing economy is something we talk about in the u.s. weather is to bear, air b&b, i think about it both in sharing of assets in supp

. >>> two days of mourning now observed in nigeria after the collapse of a church killed 50 parishioners in the city of oyu over the weekend. it was during the dedication of the church will is still under construction. the steel girders gave way. the governor was among the dig in that ta dig in thnin that dignitaries i church. >>> the bipartisan response coming up next after the uproar over the russians meddlesiing i the u.s. election. don't let sinus symptoms bring you down now! because you've got a lot of cheering to do! get fast sinus relief...with vicks sinex. and get your head back in the game. sinex. the congestion, pressure, pain to clear your head, medicine. the itsy bitsy spider went up the waterspout. down came the rain and clogged the gutter system creating a leak in the roof. luckily the spider recently had geico help him with homeowners insurance. water completely destroyed his swedish foam mattress. he got full replacement and now owns the sleep number bed. his sleep number setting is 25. call geico and see how much you could save on homeowners insurance. >>> did russian ha

in nigeria, government officials plan to investigate saturday's deadly collapse of a church. trying to determine how it happened. officials fear that dozens of people were killed when the building's roof and steel girders caved in. there's no official death toll at this point. one witness telling cnn that the entire church came tumbling down trapping so many people in the debris. >>> an explosion inside a small church next to a cathedral in cairo, egypt killed at least 25 people and wounded 31 others. state-run news reports the blast happened sunday morning near the cathedral in cairo. >>> in kenya, at least 33 people are dead after a truck carrying flammable material exploded. you see the result there. authorities say the truck lost control on a highway north of nairobi saturday. it rolled down a hill, slammed into several vehicles, then caught fire. at least 11 other vehicles were also burned. >>> one of turkey's deputy prime ministers says the pkk seems to be responsible for twin explosions that happened in istanbul saturday. he offered no evidence for the claim. but they'

yemen, nigeria, libya. so i think this is significant. we've made huge progress in iraq and syria. but there are still a lot of places where terrorists can operate and a lot of leader whose think about los angeles and new york and washington. don't put your jammies on yet. this number is a wild ass guess. >> paul whew do you think? >> you need to put the claim of 50,000 isis fighters killed into some context. the current estimate for isis fighting strength in syria iraq is 15,000 fighters. that's just 5,000 fewer than the estimate the cia gave t low range estimate in 2014 when this air campaign started. so what that tells you is that isis have been able to replenish their ranks at tens of thousands of new fighters over the last several years. this is a group that's shown significant resilience. but that resilience is indeed now fraying to some degree. they are finding it more difficult to replenish their ranks. they control less territory and that makes it more difficult for them to muster new fighters. also there's been a sharp reduction in number of foreign fighters over the bord

while there are reports of two people being killed in a suicide bombing attack in nigeria sunday that bears the hall marks of the islamist terrorist group boka haram. isis claimed responsibility for attacking a military base in yemen, killing 48. twin bomb blasts rattled the city of istanbul, killing more than 40 people. arwa damon reports from there. >> reporter: jake, dozens have been killed, even more wounded with concerns that the death toll will only continue to rise. this attack carried out at about 11:00 p.m. on saturday outside of the soccer stadium after the match was over, targeting specifically the security forces, the riot police. it was claimed by a group called toc that is an offshoot of the kurdish separatist group, the pkk. the government promised a swift response and that was executed. we saw numerous fighter jets in northern iraq and a sweeping roundup of around 200 individuals detained for various things to include direct ties to the attacks but also people accused of being sympathizers with the pkk, many of them members of the pro kurdish group, the hdp. it must be

and on that topic this morning on cnbc europe, nigeria's oil minister had a few comments to add. >> i hope the groups understand that both sides have to keep to the deal otherwise it falters. >> both sides need to commit to keep the deal but the optimism in the oil market is out there up 4% this morning. >>> the news out of europe this morning, the italian foreign minister paolo gentiloni has been chosen to be italy's next prime minister. he asked to form a new government and the political prices triggered by last week's no vote in the constitutional referendum, although it's actually quite interesting that this is the, what, 63rd government in 70 years. >>> in other political news overseas, new zealand's prime minister has been sworn in as the country's new prime minister. the transition of power comes a week after former prime minister for new england said he will be stepping down. >>> and the imf chief lagarde faces negligence trial in france after serving as the finance minister. >>> still to come, china hits back at trump. we'll take you to beijing where government officials say

as a group, all of them are taking a cut except libya and nigeria. those two countries have so much strife within weighing down on their production that they would not be able to handle any sort of production cuts. yousef: now we move on to the more difficult bits. non-opec, how is that going to work? >> russia was critical in this deal.or -- for weeks they said they would not cut production and then yesterday in the meeting, the algerian oil minister told us that what they were -- they called and said we are willing to actually make a cut and making a cut even more than we 200,000, a cutas of 300,000 barrels per day and the algerian minister told us when he came out of the meeting yesterday. take a listen. >> during the meeting when we were drying up the accord, and we still had some difficult administration questions to solve which are essential, the russian energy minister gave the information that he would reduce by 300,000 barrels a day. algerian oil minister speaking there. he was critical on getting rush on board. he flew to moscow and that wi