Harry's Stepping Out; Space Tourism
VAUSE: Friday look to be another bad day on the stock market, the futures say, it could be down 295 points before the open. The DOW actually finished almost a thousand points lower on Thursday. That's 3.5 percent there, you see closing out just over 26,000 points. A big loss of ratings and all the gains from a day earlier. Now OPEC is looking to slash production crude oil after the biggest fall in demand on record. CNN's John Defterios, joins us now from Vienna, Austria. Also, John, the question is isn't just what OPEC plans to do, but what the group known as OPEC Plus agrees to do.</s>JOHN DEFTERIOS, CNN EMERGING MARKETS EDITOR: You're exactly right, John. OPEC Plus led by Russia, which is the largest non-OPEC producer in this group of 23 producers. For a sense of play its right OPEC headquarters and the ministers are arriving now for a meeting that's going to start in 5 minutes. And they see the writing on the wall, if I can (inaudible), John because of the coronavirus and what has done to demand for jet fuel, for trucking, for manufacturing. And the pressure is on. We're below $50 a barrel in the international benchmark. So, the Saudi minister, who is the defacto leader of this group came out with a bolder proposal to cut 1.5 million barrels a day. Now through the end of the year, taken their total cuts over the last year, the 3.6 million barrels, John. That matches the drop that we've seen, because of the dropping demand from China and the other Asian countries right now. And we have a look at the barrel market in terms of prices, we've loss and we've talk about a correction on Wall Street about 10 percent over all, maybe 12 percent, it's double that in the oil market. That's why they need to move. The wildcard as you were suggesting, the lead into me, John is Russia itself. They believe and that's in the top of Vladimir Putin. They are giving too much space at the OPEC Plus and the discussions to the U.S. producers, Norway and Brazil. The U.S. is about 13 million barrels a day, they are not cutting production, but the idea stability going forward, they recalled back in 2016, John. From prices plummeted to $30 a barrel. Nobody wants to go through that yet again and that's why the Saudis said, look, we'll cut now 1.5 for the first part of the year and then they went back into a meeting last night and said, look, let's not play games, let's do it for all 2020. So, it is a day of reckoning if you will. I don't think that the OPEC Plus will fall apart from 2016 when they put it together. It's important to stabilize the market. They just have to find a compromise.</s>VAUSE: Yes. Compromise is a good word. We will see what happens, John Defterios there, live for us in Vienna. We'll see what happens. Thanks, John, I appreciate it. Well, weeks after announcing that his stepping down from royalty. Prince Harry and Meghan Markle are back in London where they attended an event to honor wounded soldiers. Their first official appearance since they announced they are stepping down as senior members of the royal family. They have a lot more events appeared at least before ending their royal duties in March 31st. Well, (inaudible) on the International Space Station could have some visitors next year. Hi, I'm coming in. Elon Musk SpaceX struck a deal with Aerospace Axiom Space for their tourist, researchers and other very wealthy people to the orbiting platform. A four mete wide spacecraft would transport three passages for each trip, other they trained flight commander as well. The first mission could launch as soon as the second half of next year. The visitor would spend at least eight days on the station doing what? Returning to earth that is enough. Thank you for watching CNN Newsroom, I'm John Vause. Early Start is up next with Christine Romans and Phil Mattingly.