This is CBSi and the world. I'm John Bachelor.

Vladimir Putin to the Gulf.

Vladimir Putin to Saudi Arabia to meet with MBS,

Vladimir Putin to the UAE to meet with another oil producer.

Why? What has happened?

Vladimir Putin emerges from his cocoon suddenly.

I welcome Michael Bernstom he is at the Hoover Institution and he's my guide on the Russian economy under severe sanctions and Michael a very good evening to you. Why does Mr. Putin, after spending the last months at the

end of a 20-foot table or in this vast hallway where no one is allowed to approach him

within 50 yards? Why is he walking and talking with military review and the sheks of Arabia. What's happened? Good evening to you.

Good evening to you.

Good evening to you. What happens is that it is the debate about the future of oil prices on

which Russia depends the Saudi Arabia depends but they are now their positions are totally different.

If you look at the oil market, oil brand was over 1991 in the end of September.

And then it went down.

Everyone expected what will appear,

meaning Saudi Arabia, I would say at the end of November,

they postponed their meeting and then they finally said that maybe in the second

quarter of 2024 maybe they will cut output but it will be voluntary so it will

be 900,000 barrels a day,

voluntary reduction, no one has to follow it at second quarter of

2024 and the total decline of oil supply to the oil market would be 2.2 million

barrel. They including those voluntary which or no one knows whether it would come.

...