U.S. flies bombers over Korean peninsula after North Korea missile test

Agencies
July 30, 2017

 

Seoul, Jul 30: The United States flew two B-1B bombers over the Korean peninsula in a show of force after recent North Korean missile tests, the U.S. Air Force said in a statement on Sunday.

North Korea said it conducted another successful test of an intercontinental ballistic missile (ICBM) on Friday that proved its ability to strike America's mainland, drawing a sharp warning from U.S. President Donald Trump.

The B-1B flight, conducted on Saturday, was in direct response to the missile test and the previous July 3 launch of the "Hwansong-14" rocket, the U.S. statement said. The bombers took off from a U.S. air base in Guam, and were joined by Japanese and South Korean fighter jets during the exercise, according to the statement.

"North Korea remains the most urgent threat to regional stability," Pacific Air Forces commander General Terrence J. O'Shaughnessy said in the statement.

"If called upon, we are ready to respond with rapid, lethal, and overwhelming force at a time and place of our choosing".

The U.S. has in the past used overflights of the supersonic B1-B "Lancer" bomber as a show of force in response to North Korean missile or nuclear tests.

North Korean leader Kim Jong Un personally supervised the midnight test launch of the missile on Friday night and said it was a "stern warning" for the United States that it would not be safe from destruction if it tries to attack, the North's official KCNA news agency said.

North Korea's state television broadcast pictures of the launch, showing the missile lifting off in a fiery blast in darkness and Kim cheering with military aides.

China, the North's main ally, said it opposed North Korea's missile launches, which it said violate United Nations Security Council resolutions designed to curb Pyongyang's banned nuclear and missile programmes.

"At the same time, China hopes all parties act with caution, to prevent tensions from continuing to escalate," China's foreign ministry said in a statement on Saturday.

However, Trump said he was "very disappointed in China".

In a message on Twitter, he said: "Our foolish past leaders have allowed them to make hundreds of billions of dollars a year in trade, yet..."

"...they do NOTHING for us with North Korea, just talk. We will no longer allow this to continue. China could easily solve this problem!" he said in a subsequent tweet.

The Hwasong-14, named after the Korean word for Mars, reached an altitude of 3,724.9 km (2,314.6 miles) and flew 998 km (620 miles)for 47 minutes and 12 seconds before landing in the waters off the Korean peninsula's east coast, KCNA said.

Western experts said calculations based on that flight data and estimates from the U.S., Japanese and South Korean militaries showed the missile could have been capable of going as far into the United States as Denver and Chicago.

David Wright of the U.S.-based Union of Concerned Scientists wrote in a blog post that if it had flown on a standard trajectory, the missile would have had a range of 10,400 km (6,500 miles).

North Korea refers to the United States as its sworn enemy in its propaganda, and has done so since the 1950-53 Korean War in which the Soviet and Chinese-backed North fought against the U.S.-backed South. The isolated country often shows mockup images of a missile hitting key U.S. landmarks in its media.

 

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Agencies
June 7,2020

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.

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News Network
May 27,2020

Geneva, May 27: The number of confirmed cases of COVID-19 worldwide has increased by nearly 100,000 over the past 24 hours to surpass 5.4 million, the World Health Organisation (WHO) said.

According to the WHO, the global case tally currently stands at 5,404,512 -- a rise by 99,780 over the past day.

The death count worldwide amounts to 343,514 -- an increase by 1,486.

Most cases of infection are recorded in the Americas -- 2,454,452, with 143,739 deaths.

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News Network
April 28,2020

Geneva, Apr 28: The global death toll from the novel coronavirus has increased over the past 24 hours by nearly 5,000 to top 198,000, the World Health Organisation (WHO) said.

According to the latest WHO data, 85,530 new cases of infection have been registered globally over the past day, with 4,982 deaths.

The overall number of COVID-19 cases worldwide increased to 2,878,196 and the death count reached 198,668.

There are 1,359,380 confirmed cases and 124,525 deaths in Europe.

The number of cases in the Americas total 1,140,520, with 58,492 deaths.

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