OPEC, Russia approve 'historic' oil cuts amid coronavirus

News Network
April 13, 2020

Vienna, Apr 13: Top oil-producing countries agreed on "historic" output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday.

The US benchmark WTI climbed 7.7 percent to $24.52 a barrel in early Asian trade while Brent was up 5.0 percent at $33.08.

OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal via videoconference Sunday after Mexico had balked at an earlier agreement struck on Friday.

In the compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to Mexican Energy Minister Rocio Nahle, down slightly from 10 million barrels a day envisioned earlier.

OPEC Secretary General Mohammad Barkindo called the cuts "historic".

"They are largest in volume and the longest in duration, as they are planned to last for two years," he said.

The agreement between the Vienna-based Organization of the Petroleum Exporting Countries and partners foresees deep output cuts in May and June followed by a gradual reduction in cuts until April 2022.

Barkindo added that the deal "paved the way for a global alliance with the participation of the G20".

Saudi Energy Minister Prince Abdulaziz bin Salman, who chaired the meeting together with his Russian and Algerian counterparts, also confirmed that the discussions "ended with consensus".

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Agencies
March 15,2020

Houston, Mar 15: Researchers, studying the novel coronavirus, have found that the time between cases in a chain of transmission is less than a week, and over 10 per cent of patients are infected by someone who has the virus, but does not show symptoms yet, a finding that may help public health officials contain the pandemic.

The study, published in the journal Emerging Infectious Diseases, estimated what's called the serial interval of the coronavirus by measuring the time it takes for symptoms to appear in two people with the virus -- the person who infects another, and the infected second person.

According to the researchers, including those from the University of Texas at Austin, the average serial interval for the novel coronavirus in China was approximately four days.

They said the speed of an epidemic depends on two things -- how many people each case infects, and how long it takes cases to spread.

The first quantity, the scientists said, is called the reproduction number, and the second is the serial interval.

Due to the short serial interval of the disease caused by the coronavirus -- COVID-19 -- they said, emerging outbreaks will grow quickly, and could be difficult to stop.

“Ebola, with a serial interval of several weeks, is much easier to contain than influenza, with a serial interval of only a few days,” said Lauren Ancel Meyers, study co-author from UT Austin.

Meyers explained that public health responders to Ebola outbreaks have much more time to identify and isolate cases before they infect others.

“The data suggest that this coronavirus may spread like the flu. That means we need to move quickly and aggressively to curb the emerging threat,” Meyers added.

In the study, the scientists examined more than 450 infection case reports from 93 cities in China, and found the strongest evidence yet that people without symptoms must be transmitting the virus -- known as pre-symptomatic transmission.

More than one in ten infections were from people who had the virus but did not yet feel sick, the scientists said.

While researchers across the globe had some uncertainty until now about asymptomatic transmission with the coronavirus, the new evidence could provide guidance to public health officials on how to contain the spread of the disease.

“This provides evidence that extensive control measures including isolation, quarantine, school closures, travel restrictions and cancellation of mass gatherings may be warranted,” Meyers said.

The researchers cautioned that asymptomatic transmission makes containment more difficult.

With hundreds of new cases emerging around the world every day, the scientists said, the data may offer a different picture over time.

They said infection case reports are based on people's memories of where they went and whom they had contact with, and if health officials move quickly to isolate patients, that may also skew the data.

“Our findings are corroborated by instances of silent transmission and rising case counts in hundreds of cities worldwide. This tells us that COVID-19 outbreaks can be elusive and require extreme measures,” Meyers said.

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News Network
May 21,2020

London, May 21: Working mothers in Europe and the United States are taking on most of the extra housework and childcare created by lockdown - and many are struggling to cope, a survey showed on Thursday.

Women with children now spend an average 65 hours a week on the unpaid chores - nearly a third more than fathers - according to the Boston Consulting Group, which questioned parents in five countries.

"Women have been doing too much household work for too long, and this crisis is pushing them to a point that's simply unsustainable," Rachel Thomas, of U.S.-based women's rights group LeanIn.Org, said in response to the data.

"We need a major culture shift in our homes and in our companies ... We should use this moment to build a better way to work and live – one that's fair for everybody."

Researchers say fallout from the pandemic weighs on women in a host of ways, be it in rising domestic violence or in lower wages, as some women cut paid work to take on the new duties.

With lockdowns shutting schools and keeping citizens at home, creating a mountain of domestic work, public campaigns from Georgia to Mexico have urged men to do their fair share.

But women, who on average already do more at home than men, are now shouldering most of the new coronavirus burden, too, said the survey of more than 3,000 working parents in the United States, Britain, Italy, Germany and France.

Women's unpaid hours at home have nearly doubled to 65 hours a week, said the survey, against 50 logged by an average father.

British women are more likely to support others in the COVID-19 pandemic and are finding it harder to stay positive, according to separate analysis released this week by polling firm Ipsos MORI and feminist organisation The Fawcett Society.

It is "no surprise" to see women do more childcare and housekeeping on top of their day jobs, Jacqui Hunt of women's rights group Equality Now, told the Thomson Reuters Foundation.

However, there are "hopeful signs" that men in West Africa are sharing more childcare during the pandemic in a shift in social norms, found a small rapid analysis by humanitarian organisation CARE International released on Wednesday.

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News Network
June 8,2020

Wellington, Jun 8: New Zealand lifted all domestic coronavirus restrictions on Monday after its final COVID-19 patient was given the all clear, with Prime Minister Jacinda Ardern revealing she danced around her living room when told about the milestone.

While strict border controls will remain in place, Ardern said restrictions such as social distancing and limits on public gatherings were no longer needed.

"We are confident we have eliminated transmission of the virus in New Zealand for now," she said in a televised address, saying Kiwis had "united in unprecedented ways to crush the virus".

The South Pacific nation, with a population of five million, has had 1,154 confirmed COVID-19 cases and 22 deaths.

There have been no new infections for 17 days and, until Monday, just one active case for more than a week.

Details of the final patient were not released for privacy reasons but it is believed to be a woman aged in her 50s who was linked to a cluster at an Auckland nursing home.

Ardern said the sacrifices made by New Zealanders, including a drastic seven-week lockdown that helped curb infection rates, had been rewarded now that there were no active cases in the country.

Asked about her reaction upon hearing the news, she replied: "I did a little dance" with baby daughter Neve.

"She was caught a little by surprise but she joined in, having absolutely no idea why I was dancing around the lounge."

New Zealand's move down to Level 1, the lowest rating on its four-tier virus response system, means nightclubs can operate without dance floor restrictions and theatres will reopen.

It also means sporting events can proceed with crowds in the stands, a change New Zealand Rugby (NZR) said offered its Super Rugby Aotearoa competition the opportunity to achieve a world first when it kicks off this weekend.

"We're incredibly proud, and grateful, to be the first professional sports competition in the world to be in a position to have our teams play in front of their fans again," NZR chief executive Mark Robinson said.

While many other sporting competitions around the globe have announced plans to restart, the vast majority will be played either with no crowds or with numbers severely restricted.

On a broader level, Ardern said easing restrictions would help New Zealand's economy.

"We now have a head start on economic recovery because at level one we become one of the most open, if not the most open, economies in the world," she said.

The prime minister said modelling showed the economy would operate at just 3.8 percent below normal at Level 1, compared with a 37 percent impairment at Level 4 lockdown.

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