OPEC, allies agree to reduce crude production by 1.2 million barrels/day

Agencies
December 8, 2018

Vienna, Dec 8: In an aim to boost global oil markets, member countries of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies on Friday decided to slash crude oil production by 1.2 million barrels per day.

The agreement is set to be implemented in January 2019, Xinhua reported.

The 15-member group agreed to cut crude oil output by 800,000 barrels per day, while Russia and its allied producers would slash oil production by around 400,000 barrels per day.

Prior to the meeting, Saudi Arabia, the de facto leader of the OPEC, had said that the group would "seriously consider" the views of Prime Minister Narendra Modi and United States President Donald Trump on lowering global crude oil prices.

On Wednesday, Trump had urged OPEC countries to keep oil production stable so that its prices remained low in the near future. "Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!", the US President had tweeted.

The crucial meet came at a time when the global oil market is unstable in the aftermath of the economic sanctions imposed on Iran by the US government, thereby stifling Tehran`s crude supplies.

Crude rates skyrocketed to a four-year high of USD 86 per barrel in October. But since then, the price spiralled down to about USD 60 per barrel.

The OPEC comprises 15 oil-producing nations and comprises Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Congo, Saudi Arabia, United Arab Emirates, Venezuela, and Qatar. They account for more than half of the world`s oil output.

However, Qatar will pull out from the group in January 2019, as it wants to focus on its efforts to increase its natural gas production.

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News Network
May 12,2020

New Delhi, May 12: Former Prime Minister Manmohan Singh, who was admitted to the AIIMS here after suffering reaction to a new medication, was discharged on Tuesday.

The 87-year-old Congress leader was discharged around 12:30 pm, hospital sources said.

Manmohan Singh was shifted to a private ward in the Cardio-Neuro tower on Monday night. He was also tested for Covid-19 and his results had come out negative, the sources said. The Congress leader was admitted to the hospital on Sunday evening after he complained of uneasiness.

The sources said that Singh had developed a reaction to a new medication and was admitted to AIIMS for observation and investigation.

Manmohan Singh is currently a Member of Rajya Sabha from Rajasthan. He was the prime minister between 2004 and 2014.

In 2009, Singh underwent a successful coronary bypass surgery at the AIIMS.

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Agencies
January 16,2020

Moscow, Jan 16: Russia's government resigned in a shock announcement on Wednesday after President Vladimir Putin proposed a series of constitutional reforms.

In a televised meeting with the Russian president, Prime Minister Dmitry Medvedev said the proposals would make significant changes to the country's balance of power and so "the government in its current form has resigned".

"We should provide the president of our country with the possibility to take all the necessary measures" to carry out the changes, Medvedev said.

"All further decisions will be taken by the president." Putin asked Medvedev, his longtime ally, to continue as head of government until a new government has been appointed.

"I want to thank you for everything that has been done, to express satisfaction with the results that have been achieved," Putin said.

"Not everything worked out, but everything never works out." He also proposed creating the post of deputy head of the Security Council, suggesting that Medvedev take on the position.

Earlier Wednesday Putin proposed a referendum on a package of reforms to Russia's constitution that would strengthen the role of parliament.

The changes would include giving parliament the power to choose the prime minister and senior cabinet members, instead of the president as in the current system.

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News Network
March 29,2020

Washington, Mar 29: The number of known coronavirus US cases soared well past 115,000, with more than 1,900 dead, as President Donald Trump said on Saturday he was considering imposing a quarantine on the hard hit New York region.

American healthcare workers in the trenches of the pandemic are appealing for more protective gear and equipment to treat a surge in patients that is already pushing hospitals to their limits in virus hot spots such as New York City, New Orleans and Detroit.

Trump told reporters he could order a quarantine on three states, New York, New Jersey and Connecticut, which between them have recorded at least 64,000 infections and 895 deaths.

He also appeared to soften his previous comments calling for the US economy to be swiftly reopened. Asked whether he thought the United States would restart by Easter Sunday, April 12, Trump replied, "We'll see, what happens."

New York Governor Andrew Cuomo said he had no details on any possible quarantine order for his state, telling a briefing: "I don't even know what that means. I don't know how that would be legally enforceable, and from a medical point of view I don't know what you would be accomplishing."

He said New York was postponing its presidential primary election to June 23, from April 28.

As the crisis deepened, nurses at Jacobi Medical Center in New York's borough of the Bronx protested outside the hospital on Saturday, saying supervisors asked them to reuse personal protective equipment, including masks. Some held signs with slogans including "Protect our lives so we can save yours."

"The masks are supposed to be one-time use," one nurse said, according to videos posted online. "Now, all of a sudden the CDC (Centers for Disease Control and Prevention) is saying that it's fine for us to reuse them. These choices are being made not based on science. They're being made based on need."

One resident at New York Presbyterian Hospital said they were issued with just one mask.

"This is your mask forever. You can bring it home with you. Here's how you can clean your mask," said the resident, who asked not to be named because he was not authorized to speak to the media. "It's not the people who are making these decisions that go into the patients' rooms."

Doctors are also especially concerned about a shortage of ventilators, machines that help patients breathe and are widely needed for those suffering from COVID-19, the pneumonia-like respiratory ailment caused by the highly contagious novel coronavirus.

Hospitals have also sounded the alarm about scarcities of drugs, oxygen tanks and trained staff.

By Saturday afternoon, the US number of cases stood at 115,842 with at least 1,929 deaths, according to a Reuters tally. The United States has had the most recorded cases of any country since its count of infections eclipsed those of China and Italy on Thursday.

BLACK MARKET
As shortages of key medical supplies abounded, desperate physicians and nurses were forced to take matters into their own hands.

New York-area doctors say they have had to recycle some protective gear, or even resort to bootleg suppliers.

Dr. Alexander Salerno of Salerno Medical Associates in northern New Jersey described going through a "broker" to pay $17,000 for masks and other protective equipment that should have cost about $2,500, and picking them up at an abandoned warehouse.

"You don't get any names. You get just phone numbers to text," Salerno said. "And so you agree to a term. You wire the money to a bank account. They give you a time and an address to come to."

Nurses at Mount Sinai Hospital in New York said they were locking away or hiding N95 respirator masks, surgical masks and other supplies that are prone to pilfering if left unattended.

"Masks disappear," nurse Diana Torres said. "We hide it all in drawers in front of the nurses' station."

One nurse at Westchester Medical Center, in the suburbs of the city, said colleagues have begun absconding with scarce supplies without asking, prompting better-stocked teams to lock masks, gloves and gowns in drawers and closets.

An emergency room doctor in Michigan, an emerging epicenter of the pandemic, said he was wearing one paper face mask for an entire shift due to a shortage and that hospitals in the Detroit area would soon run out of ventilators.

"We have hospital systems here in the Detroit area in Michigan who are getting to the end of their supply of ventilators and have to start telling families that they can't save their loved ones because they don't have enough equipment," the physician, Dr. Rob Davidson, said in a video posted on Twitter.

Sophia Thomas, a nurse practitioner at DePaul Community Health Center in New Orleans, where Mardi Gras celebrations late last month fueled an outbreak in Louisiana's largest city, said the numbers of coronavirus patients "have been staggering."

In the nation's second-largest city, Los Angeles Mayor Eric Garcetti said spiking cases were putting Southern California on track to match New York City's infection figures in the next week.

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