Oil prices rebound on lower output from US, Russia

Agencies
October 1, 2019

Oct 1: Oil prices rebounded in early Asian trade on Tuesday after production at the world's largest oil producers fell in the third quarter, although demand concerns continued to keep a keep a lid on prices.

December Brent crude futures rose 44 cents, or 0.7% to $59.69 a barrel by 0202 GMT, while U.S. West Texas Intermediate crude was up 39 cents, or 0.7%, at $54.46 a barrel.

Front-month prices for both contracts posted their largest quarterly falls this year on Monday, hurt by a slowdown in global economic growth amid the U.S.-China trade war.

"Asia has seen some profit-taking from short-term money and other bargain hunters," Jeffrey Halley, a senior market analyst for Asia Pacific at OANDA in Singapore, said.

"Any rallies though are likely to be met with plenty of sellers as a slowing global economy and the recovery of Saudi production outweigh any Middle East risk factors for now."

Oil prices are likely to remain steady, with Brent averaging $65.19 a barrel and WTI $57.96 in 2019, as flagging demand outweighs supply shocks, a Reuters survey showed.

Saudi Aramco has restored full oil production and capacity to the levels they were at before attacks on its facilities on Sept. 14, the head of its trading arm said on Monday. Saudi Arabia pumped about 9.78 million barrels per day (bpd) in August.

Still, OPEC's output fell to the lowest in eight years in September at 28.9 million bpd, down 750,000 bpd from August's revised figure and the lowest monthly total since 2011, a separate Reuters survey found.

Output at the world's two largest producers, the United States and Russia, also fell in July and September, respectively.

Russia's output declined to 11.24 million bpd in Sept. 1-29, down from 11.29 million bpd in the previous month, sources said, although it's still above the quotas set in an output deal between Russia and OPEC.

U.S. crude oil output fell 276,000 bpd in July to 11.81 million bpd as federal offshore Gulf of Mexico production slid, according to a U.S. Energy Information Administration monthly report released on Monday.

US production peaked at 12.12 million bpd in April.

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News Network
July 11,2020

Geneva, Jul 11: The World Health Organization said Friday that it is still possible to bring coronavirus outbreaks under control, even though case numbers have more than doubled in the past six weeks.

WHO chief Tedros Adhanom Ghebreyesus said the examples of Italy, Spain, South Korea and India's biggest slum showed that however bad a outbreak was, the virus could still be reined in through aggressive action.

"In the last six weeks cases have more than doubled," Tedros told a virtual press conference in Geneva.

However, "there are many examples from around the world that have shown that even if the outbreak is very intense, it can still be brought back under control," said Tedros.

"And some of these examples are Italy, Spain and South Korea, and even in Dharavi -- a densely packed area in the megacity of Mumbai -- a strong focus on community engagement and the basics of testing, tracing, isolating and treating all those that are sick is key to breaking the chains of transmission and suppressing the virus."

The novel coronavirus has killed at least 555,000 people worldwide since the outbreak emerged in China last December, according to a tally from official sources compiled by AFP on Friday.

Nearly 12.3 million cases have been registered in 196 countries and territories.

"Across all walks of life, we are all being tested to the limit," Tedros said, "from countries where there is exponential growth, to places that are loosening restrictions and now starting to see cases rise.

"Only aggressive action combined with national unity and global solidarity can turn this pandemic around."

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News Network
July 14,2020

Washington, Jul 14: Florida on Sunday reported a record 15,300 new coronavirus cases, the most by any state in a single day even as the coronavirus cases in the country have surged to 3,363,056.

The Washington Post reported that the huge number was result of both increased testing and widespread community transmission. The numbers shattered previous highs of 11,694 reported by California last week and 11,571 reported by New York on April 15.

Natalie E. Dean, an assistant professor of biostatistics at the University of Florida wrote that with Florida largely open for business, he doesn't expect this surge to slow.

Nationally, the conversation over reopening has become increasingly fraught amid the newly soaring case numbers, with much of the debate centering on whether schools should open their doors in the fall, reported the Post.

The Health workers in California and Texas too are facing an influx of COVID-19 patients where officials reported seven day averages for new cases - 8,664 and 9060 respectively.

According to the report, Florida has reported nearly 70,000 cases in last week alone, the most of any state.

Even though the COVID-19 cases are surging, Florida Gov. Ron DeSantis has stuck to an aggressive reopening plan with state officials recently ordering schools to reopen five days a week in the new academic year.

The state is also set to hold the Republican National Convention next month in Jacksonville's VyStar Veterans Memorial Arena, an indoor facility that seats about 15,000, reported Washington Post.

Seven-day averages for new cases -- considered a more reliable indicator of the virus's impact than single-day totals -- hit new highs in Alabama, Florida, Mississippi, Montana, North Carolina, Oklahoma and Puerto Rico.

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Agencies
July 18,2020

Days after Twitter accounts of several billionaires were hacked to engineer a crypto scam, Twitter on Saturday said it is embarrassed, disappointed and, more than anything, sorry for what happened with some of its high-profile users as attackers successfully manipulated its employees and used their credentials to access internal systems, including getting through the two-factor protections.

In the first detailed summary of the "social engineering attack" via a crypto scam that hit at least 130 users this week, Twitter said for 45 of those accounts, the attackers were able to initiate a password reset, login to the account and send Tweets.

"We are continuing our forensic review of all of the accounts to confirm all actions that may have been taken. In addition, we believe they may have attempted to sell some of the usernames," the micro-blogging platform said in a statement.

For up to eight of the Twitter accounts involved, the attackers took the additional step of downloading the account's information via "Your Twitter Data" tool.

This is a tool that is meant to provide an account owner with a summary of their Twitter account details and activity.

"We are reaching out directly to any account owner where we know this to be true. None of the eight were verified accounts," said Twitter.

The company said the attackers were not able to view previous account passwords, as those are not stored in plain text or available through the tools used in the attack.

"Attackers were able to view personal information including email addresses and phone numbers, which are displayed to some users of our internal support tools," informed Twitter.

In cases where an account was taken over by the attacker, they may have been able to view additional information, Twitter added, saying its forensic investigation of these activities was still ongoing.

"We are actively working on communicating directly with the account-holders that were impacted".

The company said it will soon restore access for all account owners who may still be locked out as a result of the remediation efforts.

The New York Times reported on Friday that the Twitter crypto scam can be traced back to a group of hackers who congregate online at OGusers.com, a username-swapping community where people buy and sell coveted online handles.

The report said that the Twitter hack is not from Russian, Chinese or North Korean hackers but was done by a group of young people, "one of whom says he lives at home with his mother".

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