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
January 30,2020

New York, Jan 30: Three Indian citizens were arrested by border patrol agents here for entering the US illegally.

US Border Patrol agents stopped a vehicle near Massena in New York state along the county's northern border on January 24. During the vehicle checking, the agents found that two of the passengers were Indian citizens who entered the US illegally and not at a designated port of entry.

Both the passengers were transported to the Border Patrol Station for processing and charged.

The vehicle driver, also an Indian citizen who originally entered illegally into the US in 2012 and was ordered removed from the country in absentia last December, was charged with alien smuggling, a felony, which carries a penalty of a fine and up to five years of imprisonment for each violation.

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News Network
July 26,2020

Seoul, Jul 26: North Korean authorities have imposed a lockdown on the border city of Kaesong after discovering what they called the country's first suspected case of the novel coronavirus, state media reported Sunday.

Leader Kim Jong Un convened an emergency politburo meeting on Saturday to implement a "maximum emergency system and issue a top-class alert" to contain the virus, official news agency KCNA said.

If confirmed, it would be the first officially recognised COVID-19 case in the North where medical infrastructure is seen as woefully inadequate for dealing with any epidemic.

KCNA said a defector who had left for the South three years ago returned on July 19 after "illegally crossing" the heavily fortified border dividing the countries.

But there have been no reports in the South of anyone leaving through what is one of the world's most secure borders, replete with minefields and guard posts.

Pyongyang has previously insisted not a single case of the coronavirus had been seen in the North despite the illness having swept the globe, and the country's borders remain closed.

The patient was found in Kaesong City, which borders the South, and "was put under strict quarantine", as would anybody who had come in close contact, state media said.

It was a "dangerous situation... that may lead to a deadly and destructive disaster", the media outlet added.

Kim was quoted as saying "the vicious virus could be said to have entered the country", and officials on Friday took the "preemptive measure of totally blocking Kaesong City".

The nuclear-armed North closed its borders in late January as the virus spread in neighbouring China and imposed tough restrictions that put thousands of its people into isolation, but analysts say the North is unlikely to have avoided the contagion.

South Korea is currently recording around 40 to 60 cases a day.

Earlier this month Kim warned against any "hasty" relaxation of anti-coronavirus measures, indicating the country will keep its borders closed for the foreseeable future.

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Agencies
March 14,2020

Nairobi, Mar 14: Kenya and Ethiopia on Friday announced their first confirmed cases of coronavirus, as East Africa, which has so far been unscathed by the global pandemic, scaled up emergency measures to contain its spread.

In Kenya, a 27-year-old Kenyan woman tested positive for the virus on Thursday in Nairobi, a week after returning from the United States via London.

She was in a stable condition and recovering, Health Minister Mutahi Kagwe told reporters.

"We wish to assure all Kenyans that the government will use all the resources available to fight coronavirus," he said, as the government rolled out a raft of new containment measures.

The government had traced all the contacts of the patient since she arrived back in Kenya on March 5, he said.

"At the moment, there is absolutely no need for panic and worry," he said.

Kenya, with a population of 50 million people, saw a spree of panic buying among the middle-class in Nairobi supermarkets, in the wake of the announcement.

Meanwhile Ethiopia, Africa's second most populous nation with over 100 million people, said a 48-year-old Japanese man who had arrived in the country on March 4 from Burkina Faso was confirmed to have contracted the virus.

"He is undergoing medical follow-up and is in a stable condition. Those who have been in contact with this person are being traced and quarantined," the health ministry said in a statement.

Burkina Faso only confirmed its first case on Tuesday -- a couple returning from France -- and the Japanese patient had been in that country since February 24.

Ethiopian Health Minister Lia Tadesse said three other patients were in isolation.

Ethiopia becomes the 15 country in Africa with a confirmed case of the virus that has swept the globe, infecting more than 130,000 people and killing nearly 5,000 since it first emerged in China.

But to date the continent has been spared the worst of the pandemic.

Only five people have succumbed to coronavirus so far -- all in north Africa -- with the sub-Saharan region recording no deaths and very low numbers of confirmed cases.

But countries in East Africa -- which until the positive case in Kenya, had only recorded negative test results -- have been taking precautions.

Some flights have been restricted, with Kenya Airways suspending its route to Rome, and charter flights from Italy to the Kenyan coast on hold.

It has also suspended international conferences, a top earner in Nairobi, a hub for such events in the region, and non-essential travel abroad for politicians.

The government announced more expansive restrictions on Friday, including a temporary ban on major public gatherings, prison visits and activities between schools.

Other countries in the region have been rolling out their own measures.

In Rwanda, which shares a border with the Democratic Republic of Congo, which has confirmed cases, washing basins with soap and sanitiser have been placed on streets for commuters to use before boarding buses.

Authorities in Kigali, the capital, have also banned concerts, rallies and trade fairs -- although like in Kenya and Uganda, church services have been proceeding and bars, restaurants and entertainment precincts remain open.

Neighbouring Burundi, meanwhile, has quarantined 34 people in a hotel in Bujumbura as a precaution.

Uganda has ordered that visitors from a number of affected countries self quarantine for 14 days, or consider simply not visiting at all.

South Sudan's health ministry said meanwhile that it was "temporarily suspending direct flights between South Sudan and all affected countries".

Kagwe, the Kenyan health minister, also addressed a rumour circulating on social media that people with black skin cannot contract the virus.

"I would like to disabuse that notion. The lady (confirmed with coronavirus in Kenya) is an African, like you and I," he said.

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