AirAsia plane with 162 aboard missing en route to Singapore

Washington, May 1:The novel coronavirus, that has killed over 230,000 people globally so far and has shattered economies, emerged from a virology lab in the Wuhan city of China, US President Donald Trump claimed Thursday with a high degree of confidence.

"Yes, I have. Yes, I have," Trump told reporters at the East Room of the White House when asked if he has seen anything at this point that gives him a high degree of confidence that the Wuhan Institute of Virology is where the virus originated.

The president, however, refuse to provide any details, except for saying that investigations are on and it would be out soon.

Asked what gave him a high degree of confidence that the virus originated from the Wuhan Institute of Virology, he said, "I can't tell you that. I'm not allowed to tell you that."

The president, however, did not hold his Chinese counterpart Xi Jinping responsible for this. "I don't want to say that, I don't want to say that, but certainly it could have been stopped. It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it."

Reiterating that this is something that could have been contained at Wuhan ground zero, he said that China could have contained it. "They were either unable to, or they chose not to. And the world has suffered greatly."

One of two things happened, he reasoned. "They either didn't do it and you know they couldn't do it from a competent standpoint or they let it spread and I would say probably it got out of control."

"But there's another case that how come they stopped all of the planes and all of the traffic from going into China, but they didn't stop the planes and the traffic from coming into the United States and from coming into all over Europe," he said, citing the example of Italy, the hardest-hit European country.

"This country (the US) is very lucky and I'm very lucky that I put the ban on China, as you know, very early on. In January, we put the ban on China and that was a very early day. That wasn't a late day, that was an early day. Then, we later put the ban on in Europe," he said.

Before holding them accountable, Trump said he wants to find out what happened. "I think we'll be able to get a very good -- a very powerful definition of exactly what happened. We're working on it strongly now and I think it's going to be very powerful," he said.

"But they could have stopped it. They are a very brilliant nation, scientifically and otherwise. It got loose, let's say, and they could have capped it. They could have stopped it, but they didn't. And they stopped the planes from going to China, but they didn't stop them from going to the rest of the world. What was that all about?” he asked.

"We should have the answer to that in the not-too-distant future and that will determine a lot how I feel about China," Trump said.

When asked if President Xi misled him, Trump said, "Something happened. I don't say misleading or not. I'll let you know that. I mean, I'll be able to give you that answer at some point in the hopefully not-too-distant future."

The entire world has suffered as a result of this, he said.

"We have had tremendous death and tremendous sorrow, sadness, and nobody's ever seen anything like it. So, have most of the countries of the world. They've suffered tremendously. It's something that is going to have to be dealt with. We'll have to see," said the president.

Los Angeles, Jul 2: New daily coronavirus cases in the United States soared past 50,000 for the first time Wednesday, as the World Health Organization delivered a grave warning that the global pandemic is accelerating.

Restaurants, bars and beaches in the world's worst-hit nation closed from California to Florida, as states reeling from yet another surge in the deadly virus braced for Independence Day festivities.

Global infections have hit their highest level in the past week, WHO data showed, with chief Tedros Adhanom Ghebreyesus saying new cases topped "160,000 on every single day."

The grim milestone came as the European Union left the United States, Brazil and Russia off its final list of nations safe enough to allow residents to enter its borders.

With more than 52,000 new COVID-19 cases in the United States alone in the past 24 hours, according to a Johns Hopkins University tally, several US states imposed 14-day quarantines on visitors in the buildup to the long weekend's July 4 celebrations.

California suspended indoor dining at restaurants in Los Angeles and several counties, while New York scrapped plans to allow restaurants to seat customers inside from next week.

President Donald Trump reiterated his belief that the contagion will "at some point... sort of just disappear, I hope."

But the US leader who has yet to be seen in public wearing a face mask during the pandemic added he would have "no problem" doing so.

EU travel ban eased

The rollbacks came as the European Union reopened its borders to visitors from 15 countries.

The bloc hopes relaxing restrictions on countries from Algeria to Uruguay will breathe life into its tourism sector, choked by a ban on non-essential travel since mid-March.

Travelers from China, where the virus first emerged late last year, will be allowed to enter the EU only if Beijing reciprocates.

And Brazil -- which has suffered the most deaths globally for the last week, and is the second-worst affected country overall -- was excluded entirely.

It topped 60,000 total fatalities Wednesday, after suffering 1,000 deaths in just 24 hours.

However, with over 10 million known infections worldwide and more than 500,000 deaths, the pandemic is "not even close to being over", the WHO warned.

Data provided by the UN health agency for the seven days from June 25-July 1 showed the highest number of new daily cases ever recorded came on June 28, when over 189,500 new cases were registered worldwide.

'Dutch brothels reopen'

According to the United Nations, the coronavirus crisis could cost global tourism and related sectors from $1.2 to $3.3 trillion in lost revenue.

Greece, which has suffered fewer than 200 virus deaths, has seen its economy hit hard by lockdowns and travel restrictions -- all but ending its lucrative tourism season before it began.

Romanian Cojan Dragos was "the first tourist" in one Corfu hotel after driving there with his wife and daughter.

"We have the whole hotel just for us," he told news agency.

Separately, Spain and Portugal held a ceremony as they reopened their land border.

The Netherlands also confirmed the reopening Wednesday of another tourist draw -- its brothels and red-light districts.

"I'm totally booked," said sex worker Foxxy, adding that she had held a "little party" when she heard restrictions would be lifted.

Clusters spur new lockdowns

Russia did not make the EU's list of approved countries so its citizens will be absent from the bloc's tourist hot-spots.

The country, however, enjoyed a public holiday Wednesday as it voted in a referendum to approve constitutional changes allowing President Vladimir Putin to stay in power for another 16 years.

Putin was forced to postpone the vote in April as his government tackled an outbreak that has infected almost 650,000 people -- the third-highest in the world.

In other countries, clusters are still causing problems.

Parts of the Australian city of Melbourne suffered sharp rises in infections, spurring new stay-at-home measures.

The Palestinian Authority announced a five-day lockdown across the West Bank after a surge in confirmed cases.

And textile factories in the central British city of Leicester were suggested as the reason for a spike in infections that has prompted the reimposition of local restrictions.

Americas spike

In the United States, spikes across southern and western states are driving a surge in national infections.

Texas, which again smashed its daily COVID-19 record with over 8,000 new cases, joined Florida and California in closing some beaches for the upcoming holiday weekend.

Apple announced it would close another 30 US stores on Thursday, half of them in California.

A further 700 deaths nationwide took the US past 128,000 deaths in total.

The Pan American Health Organization warned that the death count in Latin America and the Caribbean could quadruple to more than 400,000 by October without stricter public health measures.

The US government announced this week it had bought 92 percent of all remdesivir production -- the first drug to be shown to be relatively effective in treating COVID-19.

Britain and Germany, however, said Wednesday they had sufficient stocks of the drug.

'Corona baby'

In Britain, some 1,500 acts from Ed Sheeran and Coldplay to Paul McCartney and The Rolling Stones urged the county's government to save the live music industry, which has been collapsing because of the coronavirus.

But while lockdown measures have been a disaster for many, some have welcomed the chance to spend more quality time with hard-working partners.

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.