NEW YORK: OPEC and allied oil-producing countries decided Thursday to maintain the amount of oil they pump to the world even as the new omicron variant casts a shadow of uncertainty over the global economic recovery from the coronavirus pandemic.
Officials from OPEC countries, led by Saudi Arabia, and their allies, led by Russia, voted to stick with a pre-omicron pattern of steady, modest monthly increases in oil releases — a pace that has frustrated the United States and other oil-consuming nations as gasoline prices rise.
The OPEC+ alliance approved an increase in production of 400,000 barrels per day for the month of January.
The fast-mutating variant led countries to impose travel restrictions when it emerged late last week. In a worst-case scenario, lockdowns triggered by omicron could cut oil demand by nearly 3 million barrels per day in early 2022, according to projections by Rystad Energy.
Positive news about drugs to treat the variant or the vaccines’ effectiveness against it could improve that outlook. But even with positive news, a decrease in oil demand is likely because “the distribution of these remedies may not actually reach all markets with extreme immediacy, which would still necessitate the lockdowns in much of the developing world,” said Louise Dickson, senior oil markets analyst for Rystad.
The price of a barrel of US benchmark crude fell with news of the variant and then fell further as OPEC+ revealed it wasn’t going to curtail production. It was about $78 a barrel a week ago and was trading at about $66 a barrel Thursday. International benchmark Brent crude followed a similar path, falling from $79 a barrel a week ago to about $69 on Thursday.
The decision by OPEC+ to stay the course sends a signal that “the group does what it says and that they will continue their policy on their own terms,” Dickson said. “It also really signals that OPEC+ needs a bit more time to really dig into the numbers on the omicron variant.”
Some analysts had predicted that the OPEC+ alliance — made up of OPEC members and allied non-members like Russia — would act cautiously Thursday, pending more clarity from medical experts on the new variant.
Before omicron’s appearance, the OPEC+ meeting had been shaping up as a potentially fraught moment in a growing dispute between oil-supplying nations and oil-consuming ones, as the global economy rebounds from the worst of the pandemic downturn and demand for oil surged.
Angering the US and its allies, OPEC+ has stuck to a plan to open the petroleum taps bit by bit — even as oil prices surged to seven-year highs — until deep production cuts made during the depths of the pandemic are restored.
With rising gas prices putting him under political pressure at home, President Joe Biden last week responded to OPEC’s refusal to increase supplies more quickly by announcing the US and other nations would release tens of millions of barrels of oil from their strategic reserves, boosting supplies and temporarily lowering prices. But gasoline prices in the US barely moved.
And then, omicron’s emergence unsettled those dynamics.
White House press secretary Jen Psaki said Thursday that there are no plans to slow releases from strategic reserves, despite the advent of the variant and OPEC’s decision.
“We welcome the decision today to continue the 400,000 barrels-per-day increase,” Psaki said. “We believe this should help facilitate the global economic recovery.”
OPEC+ will meet again Jan. 4.
OPEC+ sticks to modest boost in oil output despite omicron
https://arab.news/j5dy2
OPEC+ sticks to modest boost in oil output despite omicron
Al-Qaisariya Souq: Historic market in the heart of Al-Ahsa
- Dating back to 1822, the 7,000-square-meter souq plays a vital economic role, reflecting Al-Ahsa's historical, cultural, and economic significance, alongside other heritage sites
DAMMAM: Al-Qaisariya Souq, renowned for its historic architecture, narrow covered walkways, and diverse shops, remains a beloved destination for shoppers and heritage enthusiasts, standing as one of the most famous traditional markets in the Arabian Peninsula and a prominent landmark.
Located in central Hofuf in Al-Ahsa Governorate, the market draws residents from across the region and Gulf countries, as well as tourists from around the world, attracted by its unique atmosphere and cultural significance.
The United Nations Educational, Scientific, and Cultural Organization (UNESCO) has recognized its importance by including the market on its World Heritage List in 2018.
Dating back to 1822, the 7,000-square-meter souq features 14 gates and over 422 shops along open-air corridors. Its shops are adorned with carved wooden doors, the walkways are illuminated by lanterns, and the ceiling is crafted from stained wood, while vendors display their wares outside their shops.
Visitors can find a wide variety of products, including clothing, fabrics, abayas, handbags, food, utensils, gold, and handicrafts.
Al-Qaisariya Souq plays a vital economic role, reflecting Al-Ahsa's historical, cultural, and economic significance, alongside other heritage sites like ancient neighborhoods, palaces, towers, mosques, and other traditional markets.
CNN defamation trial comes at a rough time for legacy media — and for the struggling network
- US Navy veteran Zachary Young blames CNN for destroying his business when it displayed his face onscreen during a story that discussed a “black market” in smuggling out Afghans for high fees at the time of the Taliban takeover
NEW YORK: At a particularly inopportune time for legacy media and CNN, the news outlet is on trial in Florida this week, accused of defaming a Navy veteran involved in rescuing endangered Afghans from that country when the US ended its involvement there in 2021.
The veteran, Zachary Young, blames CNN for destroying his business when it displayed his face onscreen during a story that discussed a “black market” in smuggling out Afghans for high fees at the time of the Taliban takeover.
In a broader sense, the case puts the news media on the stand in journalism critic Donald Trump’s home state weeks before he’s due to begin his second term as president, and on the same day Facebook’s parent introduced a Trump-friendly policy of backing off fact checks. Young’s attorney, Kyle Roche, leaned into the press’ unpopularity in his opening arguments on Tuesday.
“You’re going to have an opportunity to do something significant in this trial,” Roche told jurors in Florida’s 14th Judicial Circuit Courts in Panama City on Tuesday. “You’re going to have an opportunity to send a message to mainstream media. You’re going to have an opportunity to change an industry.”
That’s the fear. Said Jane Kirtley, director of the Silha Center for the Study of Media Ethics and the Law at the University of Minnesota: “Everybody in the news media is on trial in this case.”
Actual defamation trials are rare in this country
Defamation trials are actually rare in the United States, in part because strong constitutional protections for the press make proving libel difficult. From the media’s standpoint, taking a case to a judge or jury is a risk many executives don’t want to take.
Rather than defend statements that George Stephanopoulos made about Trump last spring, ABC News last month agreed to make the former president’s libel lawsuit go away by paying him $15 million toward his presidential library. In the end, ABC parent Walt Disney Co. concluded an ongoing fight against Trump wasn’t worth it, win or lose.
In the most high-profile libel case in recent years, Fox News agreed to pay Dominion Voting Systems $787 million on the day the trial was due to start in 2023 to settle the company’s claims of inaccurate reporting in the wake of the 2020 presidential election.
The Young case concerns a segment that first aired on Jake Tapper’s program on Nov. 11, 2021, about extraction efforts in Afghanistan. Young had built a business helping such efforts, and advertised his services on LinkedIn to sponsors with funding who could pay for such evacuation.
He subsequently helped four separate organizations — Audible, Bloomberg, a charity called H.E.R.O. Inc. and a Berlin-based NGO called CivilFleet Support eV — get more than a dozen people out of Afghanistan, according to court papers. He said he did not market to — or take money from — individual Afghans.
Yet Young’s picture was shown as part of CNN story that talked about a “black market” where Afghans were charged $10,000 or more to get family members out of danger.
The plaintiff says the story’s reference to ‘black market’ damaged him
To Young, the “black market” label implied some sort of criminality, and he did nothing illegal. “It’s devastating if you’re labeled a criminal all over the world,” Young testified on Tuesday.
CNN said in court papers that Young’s case amounts to “defamation by implication,” and that he hadn’t actually been accused of nefarious acts. The initial story he complained about didn’t even mention Young until three minutes in, CNN lawyer David Axelrod argued on Tuesday.
Five months after the story aired, Young complained about it, and CNN issued an on-air statement that its use of the phrase “black market” was wrong. “We did not intend to suggest that Mr. Young participated in a black market. We regret the error. And to Mr. Young, we apologize.”
That didn’t prevent a defamation lawsuit, and the presiding judge, William S. Henry, denied CNN’s request that it be dismissed. CNN, in a statement, said that “when all the facts come to light, we are confident we will have a verdict in our favor.”
Axelrod argued on Tuesday that CNN’s reporting was tough, fair and accurate. He told the jury that they will hear no witnesses who will say they thought less of Young or wouldn’t hire him because of the story — in other words, no one to back up his contention that it was so damaging to his business and life.
Yet much like Fox was publicly hurt in the Dominion case by internal communications about Trump and the network’s coverage, some unflattering revelations about CNN’s operations will likely become part of the trial. They include internal messages where CNN’s reporter, Alex Marquardt, says unflattering and profane things about Young. A CNN editor was also revealed on messages to suggest that a Marquardt story on the topic was “full of holes,” Roche said.
“At the end of the day, there was no one at CNN who was willing to stand up for the truth,” Roche said. “Theater prevailed.”
Axelrod, who shares a name with a longtime Democratic political operative and CNN commentator, contended that the give and take was part of a rigorous journalistic process putting the video segment and subsequent printed stories together. “Many experienced journalists put eyes on these stories,” he said.
It’s still going to be difficult for CNN to go through. The network, with television ratings at historic lows, doesn’t need the trouble.
“At a moment of wider vilification and disparagement of the press, there is every reason to believe this will be weaponized, even if CNN prevails,” said RonNell Andersen Jones, a professor at the University of Utah law school and expert on libel law.
The case is putting a media organization and its key players on the stand in a very public way, which is something people don’t usually see.
“I always dread any kind of libel cases because the likelihood that something bad will come out of it is very high,” Minnesota’s Kirtley said. “This is not a great time to be a libel defendant if you’re in the news media. If we ever did have the support of the public, it has seriously eroded over the past few years.”
Monstrous wildfires blanket Southern California with smoky air, threatening the health of millions. Celebrities among those who lost homes
- Tens of thousands of people have been told to evacuate after three major fires broke out Tuesday amid dangerously high winds
- At least five people had been killed and more than 1,000 structures destroyed so far, including the homes of celebrities
LOS ANGELES: Massive wildfires burning in the Los Angeles area have filled the air with a thick cloud of smoke and ash, prompting air quality adviseries across a vast stretch of Southern California.
Three major fires broke out Tuesday amid dangerously high winds, killing at least five people and destroying more than 1,000 structures. Tens of thousands of people have been told to evacuate, many in harrowing conditions.
Fires have burned several celebrities’ homes and force stars including Mark Hamill, Mandy Moore and James Woods, to evacuate.
In Altadena where one of the major fires raged, the smoke was so thick a person used a flashlight to see down the street. A dark cloud hovered over downtown Los Angeles and smoky air and ash drifted well beyond the city to communities to the east and south.
Wildfire smoke increases tiny particles in the air known as particulate matter that can be harmful to people’s health. Children, the elderly and people with conditions such as heart and lung disease are more sensitive to the effects.
Dr. Puneet Gupta, the assistant medical director for the Los Angeles County Fire Department, said wildfire smoke is known to cause heart attacks and worsen asthma, and that burning homes can also release cyanide and carbon dioxide. He said sickened patients are showing up in emergency rooms when hospitals already are full because of flu season, and some hospitals could also face evacuations due to the fires.
“We have a number of hospitals that are threatened, and if they have to be evacuated, it could become a crisis,” said Gupta, also a spokesperson for the American College of Emergency Physicians. “So that is one of the things that we have to consider.”
US Health Secretary Xavier Becerra raised concerns Wednesday about the smoke’s impact on people’s health in the aftermath of fires that have charred massive amounts of vegetation and buildings.
“That air that’s being spewed is no longer just the kind of smoke that we used to see from wildfires, where it was natural vegetation that was burning,” said Becerra, a former California Attorney General. “Now you got a whole bunch of toxic materials that are getting burned and put into the air.”
What areas are affected?
About 17 million people living across Southern California are covered by smoke and dust adviseries issued for the three wildfires, according to the South Coast Air Quality Management District.
The smoke advisory was expected to last until late Thursday. A dust advisory was also in effect until late Wednesday as gusty winds could kick up ash and dust from prior fires and further worsen air conditions, the district said.
The worst conditions were in the vicinity of the fires with some areas covered in thick, gray smoke. In East Los Angeles, the air quality index hit an unhealthy 173. Good air quality is considered to be 50 or less.
But dozens of miles away, air quality also was deemed unhealthy for sensitive groups including the elderly and young children. Officials in the city of Long Beach about 20 miles (32 kilometers) south of Los Angeles warned residents to take precautions due to the smoky air, and in coastal Rancho Palos Verdes the air quality index measured 108, which is considered unhealthy for those sensitive to pollution.
Winds from the northwest were expected late Wednesday and Thursday to push air from the regions where fires were still burning toward the south across Los Angeles and Orange counties and east toward San Bernardino County.
People living in areas affected by wildfire smoke should try to stay indoors and keep windows and doors shut to limit their exposure.
They should avoid vigorous physical activity and run air conditioning or an air purifier, and should not use house fans that draw in outside air.
For those who must be outside, a respirator mask can offer some protection, according to air quality regulators.
Stars who lost homes in the wildfires
Cary Elwes and Paris Hilton are among the stars who said Wedesday they had lost homes in the Palisade fire.
The Pacific Palisades neighborhood is a hillside area along the coast dotted with celebrity residences and memorialized by the Beach Boys in their 1960s hit “Surfin’ USA.” In the frantic haste to get to safety, roadways became impassable when scores of people abandoned their vehicles and fled on foot, some toting suitcases.
“Evacuated Malibu so last minute,” wrote Hamill in an Instagram post Tuesday night. “Small fires on both sides of the road as we approached (the Pacific Coast Highway).”
Less than 72 hours before, Hollywood’s highest-wattage stars had convened to walk the Golden Globes’ red carpet, the first major event of the exuberant and, for many, triumphant awards season. The revelry of awards season had quickly been snuffed out, too: Premieres of contenders like “Better Man” and “The Last Showgirl” were canceled, the Screen Actors Guild Awards nominations were announced via press release instead of at a live event and weekend events like the AFI Awards were preemptively scrubbed.
The Oscar nominations are also being delayed two days to Jan. 19 and the film academy has extended the voting window to accommodate members affected by the fires.
Elwes, the star of “The Princess Bride” and numerous other films, wrote on Instagram Wednesday that his family was safe but their home had burned in the coastal Palisades fire. “Sadly we did lose our home but we are grateful to have survived this truly devastating fire,” Elwes wrote.
Hilton posted a news video clip on Instagram and said it included footage of her destroyed home in Malibu. “This home was where we built so many precious memories. It’s where Phoenix took his first steps and where we dreamed of building a lifetime of memories with London,” she said, referencing her young children.
“The devastation is unimaginable. To know so many are waking up today without the place they called home is truly heartbreaking,” she wrote.
Jamie Lee Curtis said Wednesday on Instagram that her family is safe, but she suggested her neighborhood and possibly her home is on fire. She said many of her friends lost their homes.
“It’s a terrifying situation and I’m grateful to the firefighters and all of the good Samaritans who are helping people get out of the way of the blaze.”
Other stars who have homes in the area include Adam Sandler, Ben Affleck, Tom Hanks and Steven Spielberg.
Many are awaiting word on whether their homes survived the flames.
Mandy Moore said her family evacuated too and has since tried to shield her kids from the “immense sadness and worry” that she currently feels.
“So gutted for the destruction and loss,” she posted in her Instagram story. “Don’t know if our place made it.”
Woods posted footage Tuesday of flames burning through bushes and past palm trees on a hill near his home. The towering orange flames billowed among the landscaped yards between the homes.
“Standing in my driveway, getting ready to evacuate,” Woods said in the short video on X. Later, he confirmed he had evacuated and added: “It tests your soul, losing everything at once, I must say.”
Israeli military tightens media rules over war crimes prosecution concern
- Under the new rules, media interviewing soldiers of the rank of colonel and under will not be able to display their full names or faces, similar to the rules that already exist for pilots, an Israeli military spokesperson says
JERUSALEM: The Israeli military placed new restrictions on media coverage of soldiers on active combat duty amid growing concern at the risk of legal action against reservists traveling abroad over allegations of involvement in war crimes in Gaza.
The move came after an Israeli reservist vacationing in Brazil left the country abruptly when a Brazilian judge ordered federal police to open an investigation following allegations from a pro-Palestinian group that he had committed war crimes while serving in Gaza.
Under the new rules, media interviewing soldiers of the rank of colonel and under will not be able to display their full names or faces, similar to the rules that already exist for pilots and members of special forces units, Lt. Col. Nadav Shoshani, an Israeli military spokesperson told reporters.
The interviewees must not be linked to a specific combat event they participated in.
“This is our new guideline to protect our soldiers and to make sure they are safe from these types of incident hosted by anti-Israel activists around the world,” Shoshani said.
He said that under existing military rules, soldiers were already not supposed to post videos and other images from war zones on social media “even though that’s never perfect and we have a large army.” There were also long-standing rules and guidelines for soldiers traveling abroad, he said.
Shoshani said activist groups, such as the Belgium-based Hind Rajab Foundation, which pushed for the action in Brazil, were “connecting the dots” between soldiers who posted material from Gaza and then posted other photos and videos of themselves while on holiday abroad.
Last year, the International Criminal Court issued arrest warrants against Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant, as well as a Hamas leader, Ibrahim Al-Masri, over alleged war crimes in Gaza, drawing outrage in Israel.
Shoshani said there had been “a handful” of cases where reservists traveling abroad had been targeted, in addition to the case in Brazil, all of which had been started by activist groups pushing authorities for an investigation.
“They didn’t open an investigation, they didn’t press charges or anything like that,” he said.
NATO membership only credible security guarantee for Ukraine, Finnish foreign minister says
- Ukrainian officials including President Volodymyr Zelensky have called for strong security guarantees from partners that would prevent Russia from rearming for a new attack
KYIV: Membership in NATO is the only credible long-term security guarantee Ukraine can receive against future Russian aggression, Finland’s top diplomat said on Wednesday.
Donald Trump’s return to the White House on Jan. 20 has sparked hope of a diplomatic resolution to end Moscow’s invasion but also fears in Kyiv that a quick peace could come at a high price.
Ukrainian officials including President Volodymyr Zelensky have called for strong security guarantees from partners that would prevent Russia from rearming for a new attack.
“I think in the long term the only credible security guarantee is Article 5 of the Washington Treaty — so NATO membership essentially,” Foreign Minister Elina Valtonen told Reuters in Kyiv, referring to the alliance’s collective defense clause.
“And we are supporting Ukraine’s NATO membership further down the line and hopefully not in (the) too-distant future.”
Ukraine’s leaders have aggressively pushed for an invitation to join the 32-member alliance but have met resistance from key members as the war lurches toward its three-year mark and Ukrainian troops struggle to beat back Russian advances.
Trump, who has criticized US aid to Ukraine, said on Tuesday he sympathizes with Russia’s position that Ukraine should not be part of NATO. His aides and allies see Ukrainian membership as an unnecessary provocation toward Moscow.
He also blamed outgoing Democratic President Joe Biden for allegedly changing the US position on NATO membership for Ukraine.
Valtonen, who was in Kyiv days after Finland assumed the chairmanship of the Organization for Security and Co-operation in Europe, said a Trump administration would not necessarily spell the end for Ukraine’s NATO ambitions.
“Three years ago nobody thought that Finland would be joining NATO, or Sweden for that matter,” she said. “So here we are, you never know.”
Finland, which shares a 830-mile (1,336 km) border with Russia, joined the alliance in 2023 after the Kremlin’s full-scale invasion of its smaller neighbor. Sweden joined earlier this year.
‘SAME PAGE’
Trump, who has long been critical of NATO, also called on Tuesday for European members to boost spending on alliance defense from 2 percent of their gross domestic product to 5 percent.
Valtonen, who described Finland as “very much carrying its own weight so far,” said such rhetoric could help spur European efforts to strengthen collective defense.
“We are very much on the same page with Trump on that, because I think we should do more, we can do more,” she said.
“Certainly Europe has improved massively over the course of the past years, and will continue doing so.”
