OPEC Trims Oil-Demand Outlook, Making Case for Its Supply Cut

OPEC has lowered its forecast for fourth-quarter oil demand. Meanwhile, Russia's President Vladimir Putin said any energy infrastructure in the world is at risk after the explosions on the Nord Stream gas pipelines. Su Keenan reports on Bloomberg Television.

[alanleung]

"People will use 30% less oil next year, because we will drive prices up 40% this year, thereby, justifying our price hike."

[jesuschrist]

This is inflationary. When people have to spend more for their energy bills they have less money left to buy discretionary goods like gold. This is bad for gold.

[vietimports]

oil is going to be in the 70s by year end