A Message from OPEC+ 10/6/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 6 October 2022

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

OPEC+, including Saudi Arabia and Russia, have decided to cut oil production by 2 million barrels a day. The decision puts pressure on a Europe already squeezed by an energy crisis and a conflict in Ukraine, and it could be interpreted as a snub to the Biden administration, which has been asking the Saudi Kingdom to ramp up production to ease pressure on the U.S. energy markets. CNBC’s Brian Sullivan, on the ground in Vienna for the announcement, deciphers the message OPEC and Russia are sending to the United States with their decision, and Rep. Ro Khanna (D-CA) offers a message that we as Americans could send back. Plus, the team unpacks the hairy details of getting a Twitter-Musk deal done, and Louisiana is firing back against ESG. In this episode: Ro Khanna, @RepRoKhanna Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Brian Sullivan, @SullyCNBC Cameron Costa, @CameronCostaNY

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:02.6	Hi there, I'm C.N.C. producer Cameron Costa.
0:07.6	Today on Squack-Pod, Oil producers making a big move.
0:12.4	OPEC and allies of Russia announced a cut to output and now global inflation and geopolitics
0:18.5	hang in the balance of their decision.
0:20.5	California Representative Roakana.
0:23.0	I don't know whether their motivation was to strengthen Putin,
0:26.0	but here's the fact it does strengthen Putin.
0:29.0	I don't know whether their motivation was to hurt the American people,
0:32.0	but the fact is it does hurt the American people. But the fact is it does hurt the
0:34.6	American people. What exactly happened in Vienna and what does it mean for the
0:39.2	energy grid, the gas pumps, and the climate goals here at home.
0:43.0	C.N.C.'s Brian Sullivan.
0:44.8	The government needs to be a better job explaining to the American people this simple fact.
0:49.2	You can hate hydrocarbons and fossil fuels.
0:51.8	You can love windmills and solar, but they do very different things.
0:56.5	That big story plus another day, another Twitter Musk update.
1:01.8	Give me a 30% discount. No. Give me a 30% discount.
1:03.0	No.
1:04.0	Give me a 10% discount.
1:05.0	No.
1:06.0	Which just leads me back to wondering whether this is a real offer and whether the deal gets done.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.