Time to Look Beyond the Politics of the Oil Market?
Asian stocks fell, heading for the biggest decline in two weeks, as investors await the outcome of a meeting of oil producers for any indication on limiting supply and supporting crude prices. The MSCI Asia Pacific Index fell 0.8 percent to 140.87 as of 1:39 p.m. in Tokyo, headed for its steepest drop since Sept. 12. The Topix index lost 0.8 percent before a speech by Bank of Japan Governor Haruhiko Kuroda. Saudi Arabia, the world’s largest oil exporter and the leading member for the Organization of Petroleum Exporting Countries, said a meeting in Algiers will be consultative and unlikely to reach a firm decision, while Algeria’s energy minister said Saudi Arabia has offered to cut output to January levels. Carmignac Investment Committee Member Jean Medecin discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."