Sunday 14 December 2014

Dunya TV

Dunya TV

Executed Chinese teenager found innocent 18 years on

Posted:

BEIJING (AFP) - A Chinese teenager executed after being convicted of murder and rape 18 years ago was declared innocent by a court Monday, in a rare re-examination of a wrongful conviction.The 18-year-old, named Hugjiltu and also known as Qoysiletu, was found guilty and put to death in Inner Mongolia in 1996, but doubt was cast on the verdict when another man confessed to the crime in 2005.The Inner Mongolia Higher Peoples Court finds Hugjiltus original guilty verdict... is not consistent with the facts and there is insufficient evidence, the court in Hohhot said in a statement.Hugjiltu is found not guilty.The retrial comes after a pledge by leaders of the ruling Communist Party to strengthen the rule of law with Chinese characteristics -- a concept experts caution refers to greater central control over the courts rather than judicial independence.Images circulated on social media were described as showing the courts deputy president apologising to Hugjiltus parents and offering them compensation of 30,000 yuan ($4,850), although this could not be immediately confirmed.The regional court said Hugjiltus confession did not match the autopsy report as well as being inconsistent with other evidence, and that DNA evidence presented at the trial did not definitively connect him to the crime.Chinas courts, controlled by the ruling Communist Party, have a near-100 percent conviction rate in criminal cases and confessions extracted under dubious conditions are commonplace.In Hugjiltus case, authorities interrogated the teenager for 48 hours, after which he confessed to having raped and choked the woman in the toilet of a textile factory, the state-run China Daily newspaper reported in November. He was executed 61 days after the womans death.Hugjiltus family tried to prove his innocence for nearly a decade, according to reports, and the Higher Peoples Court officially began a retrial of the case in November.

Palestinians to seek UN resolution Wednesday on occupation

Posted:

RAMALLAH (AFP) - The Palestinians are to present a draft resolution to the United Nations Security Council Wednesday that would set a two-year deadline for Israel to end its occupation, an official said.The Palestinian leadership took a decision to go to the Security Council next Wednesday to vote on their project to end the occupation, senior Palestine Liberation Organisation member Wassel Abu Yussef told AFP Sunday after a meeting in Ramallah.The Israeli foreign ministry declined to comment ahead of Mondays meeting in Rome between Israeli Prime Minister Benjamin Netanyahu and US Secretary of State John Kerry.Kerry arrived in Italy Sunday amid a European-led drive to push moves towards Palestinian statehood, with US officials saying he sought to learn more about the European position.After Netanyahu called snap elections for March, some Europeans have pointed to a narrow window of opportunity to push a Palestinian resolution at the Security Council.In the past the United States has consistently used its UN veto power to block moves it sees as anti-Israel, but US officials said they drew a distinction between a unilateral step, and an effort to draw up a multilateral resolution at the UN Security Council, which would have the backing of many nations.Kerry will fly to London on Tuesday to meet chief Palestinian negotiator Saeb Erakat and Arab League chief Nabil al-Arabi.Jordan last month circulated a draft Palestinian text setting November 2016 as a deadline for the end of the Israeli occupation.But the text ran into opposition from the United States because it set a two-year timetable for the withdrawal of the Israeli army from the West Bank.Netanyahu on Sunday rejected all talk of withdrawing from east Jerusalem and the West Bank within two years.Pulling out now would bring Islamic extremists to the suburbs of Tel Aviv and to the heart of Jerusalem, he said.

Jordan, Saudi kings in talks as they battle IS

Posted:

RIYADH (AFP) - Jordans King Abdullah II met his Saudi counterpart in Riyadh Sunday for talks as both nations participate in a US-led bombing campaign against Islamic State group extremists in Syria.The official Saudi Press Agency said King Abdullah received the Jordanian monarch at his palace. Since September both kingdoms, along with Bahrain, Qatar, and the United Arab Emirates, have been taking part in American-led air strikes against the IS jihadists in Syria.Jordans king warned this month that the fight against IS is a third world war.The group has declared a caliphate in parts of Syria and Iraq, the nation bordering both Jordan and Saudi Arabia.IS militants have been accused of widespread atrocities, including beheading Western hostages.Saudi involvement in the coalition has raised concerns about possible retaliation there, while analysts say Jordan has been placed in danger by joining the international effort.During the meeting they discussed overall events at the regional and international level, and how to strengthen bilateral ties, SPA said.On Thursday Saudi Arabia said it had arrested three alleged IS supporters for shooting and wounding a Danish citizen in Riyadh.In November, the kingdom blamed IS-linked suspects for killing seven members of the minority Shiite community.Jordan, which shares a border with Syria as well as Iraq, is grappling with its own home-grown Islamist question.It also hosts more than 600,000 Syrian refugees.

Hostages held inside Sydney cafe, Islamic flag held up

Posted:

SYDNEY (AFP) - Hostages were being held inside a cafe in central Sydney Monday with a siege underway and an Islamic flag held up to a window, witnesses and reports said.Martin Place in the central business district was shut down as scores of police surrounded the Lindt Chocolat Cafe, with TV pictures showing a flag, black with white Arabic writing, held to a window.Reports said as many as 20 people were in the cafe and that there were at least two gunmen, although police had no immediate comment, only confirming that an operation was underway.Witnesses reported hearing loud bangs that sounded like gun shots.Patrick Byrne, a producer at Channel Seven whose newsroom is opposite the cafe, said staff at the television station watched the situation unfold.We raced to the window and saw the shocking and chilling sight of people putting their hands up against the panes of glass at the cafe, he told the Australian Broadcasting Corporation.This was just extraordinary.Australia has been on high alert after the government raised concerns that citizens who have fought alongside jihadists in Iraq and Syria could return home radicalised and capable of carrying out attacks.Martin Place is the finance centre of the city and houses several prominent buildings, including New South Wales state leader Mike Bairds office, the Reserve Bank of Australia, Westpac Bank and the Commonwealth Bank.Authorities said they were also dealing with an incident at the nearby Sydney Opera House, although police did not say whether it was related to the ongoing siege.The police are responding to an incident at the Opera House, a New South Wales police spokeswoman told AFP, adding that no further details were available.Reports said the Opera House had been evacuated.Prime Minister Tony Abbott convened a national security meeting to deal with the unfolding drama.This is obviously a deeply concerning incident but all Australians should be reassured that our law enforcement and security agencies are well trained and equipped and are responding in a thorough and professional manner, he said.The incidents came just minutes before police announced a man had been arrested in Sydney on alleged terrorism offences as part of ongoing investigations into plans for an attack on Australian soil.They said the 25-year-old was seized as part of continuing investigations into the planning of a terrorist attack on Australian soil and the facilitation of travel of Australian citizens to Syria to engage in armed combat.It was not clear if the matters were related.More than 70 Australians are currently fighting for Islamic militants in Iraq and Syria. At least 20 have died and there are mounting concerns that increasing numbers of youths are being radicalised and could mount attacks at home.Journalist Chris Kenny, who was in the Lindt cafe just before the siege began, said he understood the automatic glass sliding doors had been disabled.I did speak to a couple of people who saw a bit more of this unfold than I did, he told the newspaper he works for, The Australian.One woman said she tried to go into the shop just after I came out with my takeaway coffee but the doors wouldnt open.So obviously whoever is doing this has disabled the automatic glass sliding doors to stop anyone else going in and she said immediately she could see there was a weapon.She mentioned it being taken out of a blue bag and people were straight away asked to put up their hands.

Football: PSG slump to shock first league defeat

Posted:

PARIS (AFP) - Star-studded Paris Saint Germain slumped to a second defeat in a week as a 1-0 away loss at lowly Guingamp on Sunday snapped their Ligue 1 unbeaten run.The shock reverse leaves the door open for Ligue 1 leaders Marseille, on 38 points, to climb four clear later Sunday when they take on Monaco.PSG president Nasser Al-Khelaifi had been furious as the side lost their record as last unbeaten team in any of Europes leading nations with a 3-1 defeat in Barcelona on Wednesday.But this was far worse. Jeremy Pied got Guingamps goal with a flying header on the edge of the six-yard box in the 11th minute with the Paris central defence of Thiago Silva and David Luiz nowhere to be seen.It was poor marking all round, even me I got it wrong, said PSG midfielder Blaise Matuidi.Were really upset. Were just not used to losing and now thats two in a week.Edinson Cavani had hit the crossbar in the second minute and Zlatan Ibrahimovic had the ball in the net in the 35th minute only to see an offside flag go up.Paris should have had a penalty on the hour when Dorian Leveque handled when challenging Ezequiel Lavezzi, who was given a yellow card for his furious reaction when no spot-kick was awarded.PSG had ten wins and seven draws going into the game and, despite dominating, Guingamps bloody-minded resistance was eventually more than a match for the Qatari-backed PSG side.This is not just a bad week, its a dreadful one, said PSG coach Laurent Blanc.If we lose because the other side were good thats one thing, but this we cannot tolerate.Lille, dumped out of the Europa League in midweek, picked up three welcome points with a 3-0 win over Toulouse, thanks to goals from Djibril Sibide, Ryan Mendes and Nolan Roux.Earlier, Saint Etienne coach Christophe Galtier was left with a bitter taste after a 0-0 stalemate with Nice saw his midfielder Ismael Diomande sent off for a second yellow after a clash with Nices Carlos Eduardo, who was also given a straight red for his studs in the face challenge.He got kicked in the face, I cant explain it, said Galtier of the second yellow. The guy from Nice deserved his red though.On Saturday a freak own goal helped Nantes to a 2-1 win over Bordeaux to end a three-match losing run thanks to Jordan Veretouts opener, cancelled out by Kian Hansens own goal.In the 66th minute Bordeauxs young Slovenian reserve keeper Azbe Jug haplessly scored the decider when the ball, rebounding off a post, struck him on the head and ended up in his own net.Rennes were thwarted 2-0 at Bastia, playing much of the game a man down after Fallou Diagnes 26th minute red card.A first half stoppage time goal from Ryad Boudebouz and Yannick Cahuzacs effort nine minutes from time earned Bastia a precious fourth win of the season.Reims Brazilian midfielder Rigonato scored either side of the break in Reims pulsating defeat of Evian, while on a high-scoring day in the French top flight Lens came from behind to salvage a 3-3 draw at Montpellier.On Friday, Ligue 1s leading scorer Alexandre Lacazette grabbed a brace as Lyon beat bottom club Caen 3-0 to make it eight consecutive home wins.

Golf: Grace in command to win in South Africa

Posted:

MALELANE (AFP) - Branden Grace completed a wire-to-wire win at the European Tours Alfred Dunhill Championship on Sunday, closing with a fine 68 for a commanding seven-stroke victory.It was the South Africans fifth European Tour title, the other four all coming in a remarkable 2012 season.Grace had been five clear of the field at the halfway stage at Leopard Creek Golf Course after following a sparkling opening 62 with a round of 66.However, a third round 72 put him at 16 under par with little-known Dane Lucas Bjerregaard closing to within one of the lead.The door was open but no-one was able to step through it as Grace romped away to a 20 under total and comprehensive seven stroke margin of victory over compatriot Louis Oosthuizen.Last years Challenge Tour Number One Andrew Johnston was third on 11 under, with Nedbank Challenge winner Danny Willett and Trevor Fisher Junior tied for fourth a whopping ten shots behind the winner.Grace said it had been a phenomenal week.Its been a long year, a hard, year but now its a fairytale ending just before Christmas, Grace said. One of the main things this week has been the driving; I just put a new driver in the bag in Dubai and thats been the key this week.Grace swiftly doubled his overnight advantage when Bjerregaard bogeyed the first after finding a greenside bunker, and Grace birdied the second after an excellent pitch to tap-in range to pull further clear.A birdie from five feet at the fourth was followed by a gutsy par save from sand at the short fifth, but Bjerregaard up-and-down for birdie at the driveable sixth to close to within three. However, the 23-year-old Dane was dealt a major setback at the short seventh when he found the water and ran up a triple bogey six, and his afternoon unravelled from that point as he took 50 shots on the back nine to tumble down the leaderboard.Grace failed to get up-and-down at the seventh and sporadically came under pressure from Oosthuizen, Willett and Johnston.The 26-year-old kept them at arms length by getting up-and-down at the driveable 11th for birdie and two-putting the long 13th and 15th for further gains.A poor bunker shot at the 16th led to bogey, but nearest challenger Willett dropped six shots in the last three holes and Oosthuizen found water at the last to alleviate any lingering pressure.

Hamilton beats McIlroy for BBC Sports Personality award

Posted:

LONDON (AFP) - Formula One world champion Lewis Hamilton won the BBC Sports Personality of the Year award on Sunday, beating golf star Rory McIlroy into second place.Hamilton won a second world title this year taking the crown ahead of Mercedes teammate Nico Rosberg in the final race.McIlroy had been the favourite to take the BBC award, now in its 61st year, after a season which saw him clinch two majors, the British Open and PGA Championship.British athlete Jo Pavey was third in the public vote.I could not have done this without my amazing team, my family, my dad who once had four jobs to help me, my brother. Ive been incredibly inspired by them, said Hamilton.Thank you to all the fans. I always say we win and lose together because I feel your love. I feel so proud to carry the Union flag and hope I will continue to make you proud.Not everybody in the sports world was pleased by the result.Absolutely ridiculous that @McIlroyRory has not won Sports Personality 2014. Huge respect to @LewisHamilton but come on, tweeted Ryder Cup winning golfer Ian Poulter.

Boxing: Stiverne to defend WBC heavyweight title against Wilder

Posted:

LOS ANGELES (AFP) - Canadian Bermane Stiverne will make his first defense of his World Boxing Council heavyweight world title against American Deontay Wilder on January 17 in Las Vegas, organizers said Sunday.The hard-punching Stiverne won the vacant title with a sixth-round technical knockout of Chris Arreola on May 10, seizing the belt vacated by Ukrainian Vitali Klitschko when he stepped away from the ring in December of 2013.The Haitian-born Stiverne knocked Arreola down twice in the sixth before the referee stopped the contest in the first heavyweight world title fight on US soil since 2009.Twenty-one of the 36-year-old Stivernes 24 victories have come inside the distance and he is unbeaten with one draw on his record.Wilder, seven years Stiverne junior, is unbeaten in 32 fights, all won by knockout or technical knockout. With a win he can become the first American-born fighter to win a heavyweight world title since Shannon Briggs briefly held the lightly regarded World Boxing Organization title in November 2006.

....

Posted:

Sri Lanka's Sangakkara fined for dissent

Posted:

COLOMBO (AFP) - Sri Lankas star batsman Kumar Sangakkara was Sunday fined 15 percent of his match fee for showing dissent at the umpires decision in the sixth one-day international against England in Kandy.The prolific left-hander was found to have breached the International Cricket Councils code of conduct for players during the game on Saturday which the hosts won by 90 runs.The incident took place during Sri Lankas innings when Sangakkara got involved in a prolonged discussion with on-field umpire Bruce Oxenford in the 34th over, the ICC said in a statement.Sangakkara was disputing the umpires decision not to allow Sri Lanka to take the batting powerplay at that time, it said.Two balls later, following the dismissal of Tillakaratne Dilshan, Sangakkara turned to Oxenford and made another inappropriate comment.Sangakkara admitted the offence and accepted the sanction proposed by match referee David Boon after the game.Boon took into account Sangakkaras previous good record and the fact that he apologised to the umpire at the change of innings.Sri Lanka have clinched the seven-match series with an unassailable 4-2 lead. The last game will be played in Colombo on Tuesday.

Iraq police crack down on kidnappings in east

Posted:

BAQUBA (AFP) - Police operations in Iraqs eastern region of Diyala have led to three hostages being freed and the dismantling of several extortion gangs, the local police chief said on Sunday.Kidnapping for ransom in Baghdad and elsewhere in the country is a phenomenon that has grown to such an extent that the government has publicly declared tackling it would be one of its priorities.Kidnappings are a crime -- we deal with them as we deal with terrorism, Diyala province police chief Lieutenant General Jamil al-Shammari told reporters.We managed over the past 24 hours to free three people who had been kidnapped thanks to good tip-offs that led us to their captors, he said.Shammari said a series of operations had reduced the number of kidnappings in Diyala, an ethnically mixed province where the security forces, backed by Iran and Shiite militias, recently notched up significant victories against the Islamic State group.While some abductions are a direct result of the sectarian tension that has grown since jihadists took over part of Iraq this year, others are the work of extortion gangs that have prospered in the confusion.Prime Minister Haider al-Abadi recently announced the creation of special crisis cell to tackle kidnappings, which Baghdads top security official said were a greater threat to the capitals security than the jihadists.Thousands of people fearful of kidnappings have been forced to leave their homes or because they lost everything they had in paying a ransom.The militias that have helped government troops defend the country against IS fighters have been blamed for abductions and other abuses in areas they control.However, many kidnappings are also carried out by criminals posing as members of the security forces or militias.

Egypt says US scholar barred over visa issue

Posted:

CAIRO (AFP) - Egypt said Sunday the reason it had barred US scholar and prominent regime critic Michele Dunne from entering the country a day earlier was because she did not have a proper visa.The foreign ministry said Dunne had applied for a non-tourist visa at the Egyptian embassy in Washington but then withdrew her passport, suggesting the former diplomat arrived in Cairo seeking to enter on a tourist visa, with tourism not the purpose of her visit.Dunne was to attend a panel discussion at a conference organised by a pro-government group in Cairo.Some Egyptians complain I dont list enough to pro govt views. When I accept invite to conf of pro govt group they deny me entry. Go figure, she said on Twitter Saturday, suggesting that the decision to bar her was political.The authorities expressed surprise at her remarks.The consular department was surprised by the US scholars allegations ... and wondered if the United States allows foreign nationals to enter its territory without prior visa from US embassies abroad, the ministry said.In August, authorities blocked top Human Rights Watch officials at the airport when they arrived to release a report on a government crackdown targeting supporters of deposed president Mohamed Morsi.HRW said at that time that its activists were stopped due to security reasons.Morsi was ousted last year by then army chief and now President Abdel Fattah al-Sisi.His overthrow was followed by a brutal government crackdown on his supporters that left hundreds dead and thousands imprisoned.The crackdown triggered widespread international outrage, with US President Barack Obama leading the criticism.

Football: Eriksen's late show sees Spurs home at Swansea

Posted:

SWANSEA (AFP) - Christian Eriksen scored his sixth goal of the season, one minute from time, to earn Tottenham a 2-1 win at Swansea on Sunday to end a three match winless run and push the London club into the top half of the Premier League table.Swanseas leading scorer Wilfried Bony appeared to have earned his side a point when he cancelled out Harry Kanes early goal.However, careless defending from the home side allowed Eriksen to win the day with a firm strike that lifted Spurs into the top seven.Having garnered only a single point from their previous two league games against Chelsea and Crystal Palace, the visitors were understandably keen to leave an early mark.And they did exactly that when Kane rose to head home Eriksens fourth minute corner.Swanseas defeat at West Ham last Sunday had come at a price with goalkeeper Lukasz Fabianski sent off in the second half.However, they might have been level here, in the ninth minute when Wayne Routledge picked out leading scorer Bony. The Ivorian striker skipped outside Jan Vertonghen but was denied by a smart save from Hugo Lloris.On his first league start since March, due to injury, Kyle Walker was booked after 14 minutes for deliberate handball. However, with Swansea struggling along the Spurs right, it was Walker and Eric Lamela who were causing the major problems.A neat passing movement at the end of the first quarter saw Kane shoot just wide, whilst at the opposite end, the former Swansea left back Ben Davies produced a goal-saving tackle after Bony was sent into the penalty area by Monteros slide rule delivery.Tottenham certainly looked susceptible to the pace of Bony, who led Federico Fazio a merry dance in the 25th minute before seeing his shot blocked.Vertonghen became the second Spurs player to see yellow - a careless two-footed challenge on Routledge earning the Belgian a second caution of the season.Ryan Mason followed his teammate into the book for a crude challenge on Leon Britton, but Swansea manager Garry Monk was more confused by referee Robert Madleys decision to ignore what appeared to be a blatant dive from Kane, five minutes before the break.The young striker took the ball in his stride, but under no real pressure, duly went sprawling inside the 18 yard box. Monk had words with the fourth official and Mauricio Pochettino, who appeared to say that Kane had apparently slipped.Swansea were level inside three minutes after the interval. Angel Rangel sent Routledge in to a position of promise and when the latter picked out Bony, the striker, at the second attempt, beat Lloris from eight yards.It was no more than Swansea deserved, if only for their honest endeavour.As for Spurs, it was another soft goal conceded. Davies allowed Routledge around the back and Fazio, once again, allowed Bony too much time and space in which to pick help himself to an eighth goal of the season.Bony was unable to get enough on a header from Neil Taylors cross, minutes later, and when Fazio was caught napping by Gylfi Sigurdsson, the Icelandic midfielder was denied only by an unfortunate slip.Nabil Bentaleb and Mason had lost control of the middle third with Ki, who was booked in the 52nd minute, and Britton becoming increasingly more influential. However, sensing the need to provide an even bigger threat, Monk replaced the tiring Britton with Jonjo Shelvey.By now, Spurs were happy to take whatever came their way. Kane saw a shot from distance, deflected for a corner, and Rangel was forced to clear after another crisp counter attack from Eriksen.Bony was denied twice more as Swansea increased the tempo but it was Eriksen who won it in the 89th minute when he beat Gerhard Tremmel from 20 yards.

Ecuador hydropower plant accident kills 13, injures 12

Posted:

QUITO (AFP) - A total of 13 people were killed and 12 injured in a tunnel collapse at a Chinese hydroelectric power station under construction in the Ecuadoran Amazon.Three Chinese and 10 Ecuadorans died in the incident, Ecuadoran President Rafael Correa said on Twitter.Ecuadors public radio reported that the fatalities occurred in the engine room at the Coca Codo Sinclair hydroelectric station.Were evaluating what has happened. Its a problem were having in the pressurized piping, Dennis Salgado, the projects lead control technician, told AFP.The Chinese-funded plant employs 7,000 workers -- 20 percent of whom are Chinese -- along the border of the Amazonian Napo and Sucumbios states.The injured were being treated at a hospital in the town of El Chaco, according to the radio.Coca Codo Sinclair, constructed by the Chinese firm Sinohydro, cost some $2.2 billion and is scheduled to begin operation in February 2016. It is expected to generate 36 percent of the energy currently consumed in Ecuador.The plant is part of a network of eight hydroelectric stations under construction in the oil-rich country, which aims to stop importing electricity and become an exporter of clean energy.

OPEC chief defends policy, says group to try to ride out price fall

Posted:

DUBAI (Reuters) - Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators.Speaking at a conference in Dubai, Abdullah al-Badri defended Novembers decision by the Organization of the Petroleum Exporting Countries to not cut its output target of 30 million barrels per day (bdp) in the face of a drop in crude prices to multi-year lows.We agreed that it is important to continue with production (at current levels) for the ... coming period. This decision was made by consensus by all ministers, he said. The decision has been made. Things will be left as is.OPEC policy remains a crucial factor in global economic prospects after Brent crude settled at below $62 a barrel on Friday, following a steep descent which hammered energy stocks and currencies exposed to crude exports.The move left benchmark grades nearly half levels set earlier this year and doused appetite for riskier assets, pushing investors into the safety of government debt despite strong U.S. consumer sentiment.In a further reaction to slumping oil, stock markets across the Middle East fell sharply on Sunday, adding to a plunge in Gulf equity markets which has wiped out roughly $150 billion of value since the end of October.Some say selling may continue as few participants are yet willing to call a bottom for markets.But Badri suggested the crude price fall had been overdone. The fundamentals should not lead to this dramatic reduction (in price), he said in Arabic through an English interpreter.He said only a small increase in supply had lead to a sharp drop in prices, adding: I believe that speculation has entered strongly in deciding these prices.Asked if OPEC planned an emergency meeting before its next scheduled gathering in June, or a meeting with non-OPEC producers, Badri said such meetings would not have an effect on oil prices.NO TARGETOPEC had no target price for oil, Badri said in a reiteration of policy, and urged Gulf states to continue investing in exploration and production, saying the United States would continue to rely on Middle East crude for many years.Stopping new production projects would bring about a situation in which prices will go back to $147 a barrel as in 2008. This was a result of a previous such situation, he said, recalling the potential market effect of a dearth in supply brought about by inadequate upstream investment.Badri said OPEC sought a price level that was suitable and satisfactory both for consumers and producers, but did not specify a figure. The OPEC chief also said Novembers decision was not aimed at any other oil producer, rebutting suggestions it was intended to either undermine the economics of U.S. shale oil production or weaken rival powers closer to home.Some people say this decision was directed at the United States and shale oil. All of this is incorrect. Some also say it was directed at Iran and Russia. This also is incorrect, he said.However Saudi Arabias oil minister Ali al-Naimi had told last months OPEC meeting the organization must combat the U.S. shale oil boom, arguing for maintaining output to depress prices and undermine the profitability of North American producers, said a source who was briefed by a non-Gulf OPEC minister.Badri said OPEC members Iran and Iraq, their oil sectors restricted respectively by sanctions and insecurity, both had the potential to raise production, but significant increases were possible only after two or three years.Adding to the effects of OPECs unchanged production level, a lower demand growth forecast from the International Energy Agency further put the skids under oil on Friday, raising concerns of possible broader negative effects such as debt defaults by companies and countries heavily exposed to crude prices.There was also talk of the price trend adding to deflation pressures in Europe, increasing bets that the European Central Bank will be forced to resort to further stimulus early next year.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)