Abu Bakr al-Baghdadi injured in air strike in Iraq

Washington, May 22: The deadly coronavirus came from China and the US is not going to take it lightly, American President Donald Trump said on Thursday.

"It came from China. We are not happy about it. We just signed a trade deal, the ink wasn't dry and all of the sudden this floated in. We are not going to take it lightly,” Trump said participating in a Listening Session with African-American Leaders in Michigan.

Trump in the last several weeks has been very critical of China's inability to control the spread of the novel coronavirus within its territory. By Thursday more than 94,000 Americans have died due to the coronavirus and over 1.6 million have tested positive.

He has so far not given any indication of the steps that he is contemplating taking against China.

Meanwhile, pressure is building on his administration, mainly from the Republican lawmakers on this.

On Thursday, Senators Ted Cruz and Rick Scott, along Mike Braun, Marsha Blackburn, Joni Ernst, Martha McSally and Tom Cotton, introduced the COVID-19 Vaccine Protection Act to prevent the Chinese Communist Party from stealing or sabotaging American COVID-19 vaccine research.

The bill requires a thorough national security evaluation and clearance by the Department of Homeland Security, the Department of State, and the Federal Bureau of Investigation of all Chinese student visa holders taking part in activities related to COVID-19 vaccine research.

"The same Chinese Communist Party that covered up the coronavirus outbreak also routinely engages in state sponsored theft of intellectual property," Cruz said. "We cannot allow China to steal or interfere with American research and development of a vaccine,” he added.

"Communist China is responsible for the coronavirus pandemic, and their lies and misinformation cost American lives," Scott said.

"We cannot let Communist China off the hook for this, and we absolutely cannot allow Communist China to steal or sabotage any American research efforts related to the Coronavirus vaccine. The COVID-19 Vaccine Protection Act protects American efforts to create a vaccine as we work to end this pandemic," he added.

The COVID-19 Vaccine Protection Act, among others requires an enhanced vetting of nationals of the Chinese nationals in the US as nonimmigrants under F, J, or M student visas to determine if any student visa holders are a national security threat.

Once the review is complete, authorizes Department of Homeland Secretary, in consultation with other agencies, to continuously monitor all nonimmigrant student visa holders (F, M, J) who are Chinese nationals while in the US and are engaged in, or have access to, the research of any potential COVID-19 vaccine or COVID-19 related material.

Republican Whip and Ranking Member of the Select Subcommittee on the Coronavirus Crisis Steve Scalise alleged that China lied to the world on coronavirus.

"During a critical period in December and January, China withheld evidence of the virus: evidence that confirmed human to human transmission of the virus, evidence of the extent of the spread. China refused entry of American and other medical experts from around the world for weeks,” he said.

“And during this time, China hoarded medical supplies like masks, gowns, and other life-saving PPE. Chinese exports of surgical masks, gowns, and gloves were stifled by the Chinese Communist Party during this period. China knew the danger posed by the virus and while they hid the truth, they used the time to stock up on vital medical supplies,” Scalise said.

“While Chinese authorities limited domestic flights from Wuhan to other Chinese cities like Beijing and Shanghai, China's government urged international carriers to maintain their flight schedules — seeding the virus throughout the rest of the world,” he alleged.

Beijing, Jan 25: The death toll due to the novel coronavirus (2019-nCoV) outbreak in China has soared to 41, while the number of infected persons were 1,287, the National Health Commission said on Saturday.

The Commission said that 444 fresh cases were reported since Friday, with 237 patients in serious conditions, while 38 had been cured and discharged from hospitals, reports Efe news.

Health authorities have carried out check-ups on 15,197 people who have come into close contact with the infected persons. Nearly 14,000 of them continue to be monitored for symptoms.

The others cases outside of China were reported in France (two), Australia (one), Thailand (four including two cured), Japan (two including one cured), South Korea (two), the US (two), Vietnam (two), Singapore (three), Nepal (one), Hong Kong (five), Macao (two) and Taiwan (three).

The symptoms of the new coronavirus, provisionally designated by the World Health Organization as 2019-nCoV, are similar to those of cold but may be accompanied by fever and fatigue, dry cough and dyspnea (shortness of breath).

The WHO has so far to declared the outbreak as an international health emergency.

Strict measures were being carried out in China, which include complete suspension of transport in around a dozen cities in Hubei province and also cancelling Chinese New Year celebrations.

Traditional events at Lama Temple and Ditan Park in Beijing were cancelled due to the risk of spreading the virus, authorities reported Friday, while the famous Forbidden City has also been closed indefinitely.

Wuhan, the capital of Hubei, where the virus was first reported, has been on lockdown since Thursday to prevent further spread of the virus and the city's authorities have begun to build a "special hospital" with 1,000 beds for infected patients.

"Construction of the special hospital with a capacity of 1,000 beds for patients with #nCoV2019 has begun in Wuhan," official China Daily said on Twitter.

The hospital in Wuhan will be based on the model of a similar facility that was built in just seven days in Beijing to deal with SARS in 2003.

Moscow, Jun 7: OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis. Those cuts were due to taper to 7.7 million bpd from July to December.

“Demand is returning as big oil-consuming economies emerge from pandemic lockdown. But we are not out of the woods yet and challenges ahead remain,” Saudi Energy Minister Prince Abdulaziz bin Salman told the video conference of OPEC+ ministers.

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.

“Prices can be expected to be strong from Monday, keeping their $40 plus levels,” said Bjornar Tonhaugen from Rystad Energy.

Saudi Arabia, OPEC’s de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above $50 a barrel to avoid encouraging a resurgence of rival U.S. shale production.

It was not immediately clear whether Saudi Arabia, the United Arab Emirates and Kuwait would extend beyond June their additional, voluntary cuts of 1.18 million bpd, which are not part of the deal.

BULGING INVENTORIES

The April deal was agreed under pressure from U.S. President Donald Trump, who wants to avoid U.S. oil industry bankruptcies.

Trump, who previously threatened to pull U.S. troops out of Saudi Arabia if Riyadh did not act, spoke to the Russian and Saudi leaders before Saturday’s talks, saying he was happy with the price recovery.

While oil prices have partially recovered, they are still well below the costs of most U.S. shale producers. Shutdowns, layoffs and cost cutting continue across the United States.

“I applaud OPEC-plus for reaching an important agreement today which comes at a pivotal time as oil demand continues to recover and economies reopen around the world,” U.S. Energy Secretary Dan Brouillette wrote on Twitter after the extension.

As global lockdowns ease, oil demand is expected to exceed supply sometime in July but OPEC has yet to clear 1 billion barrels of excess oil inventories accumulated since March.

Rystad’s Tonhaugen said Saturday’s decisions would help OPEC reduce inventories at a rate of 3 million to 4 million bpd in July-August. “The quicker stocks fall, the higher prices will get,” he said.

Nigeria’s petroleum ministry said Abuja backed the idea of compensating for its excessive output in May and June.

Iraq, with one of the worst compliance rates in May, agreed to extra cuts although it was not clear how Baghdad would reach agreement with oil majors on curbing Iraqi output.

Iraq produced 520,000 bpd above its quota in May, while overproduction by Nigeria was 120,000 bpd, Angola’s was 130,000 bpd, Kazakhstan’s was 180,000 bpd and Russia’s was 100,000 bpd, OPEC+ data showed.

OPEC+’s joint ministerial monitoring committee, known as the JMMC, will meet monthly until December to review the market, compliance and recommend levels of cuts. JMMC’s next meeting is scheduled for June 18.

OPEC and OPEC+ will hold their next scheduled meetings on Nov. 30-Dec. 1.