|Symbol||Alert Price||High Price||% Gains|
TEHRAN, Iran (AP) — Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices.
The meeting of the so-called OPEC+ is scheduled to be held Thursday after officials delayed it following Saudi Arabia criticizing Russia over its comments about the price collapse.
A meeting in March saw OPEC and other nations led by Russia fail to agree to a production cut as the ongoing coronavirus pandemic has drastically cut demand for oil. In the time since, prices have collapsed. International benchmark Brent crude traded Wednesday over $34 a barrel as U.S. benchmark West Texas crude traded under $25.
Iranian state television quoted Oil Minister Bijan Zabganeh as saying he discussed the “method of decision-making” for the meeting Thursday with OPEC's president, as well as his Kuwaiti and Russian counterparts.
“Other producers, including the U.S. and Canada, should participate in this topic and there should be an agreement about production base of each country that is a basis for production cut,” Zanganeh was quoted as saying.
The U.S. and Canada are not part of OPEC. However, U.S. officials have been in discussions with other oil producers over the price collapse, which has hurt American shale oil firms.
Iran, a founding member of OPEC, faces its own challenge as U.S. sanctions bar it from selling its crude oil abroad since President Donald Trump unilaterally withdrew America from Tehran's nuclear deal with world powers.
Russia's Energy Ministry said Wednesday it is prepared to cut production by 1.6 million barrels a day, about 14% of its overall production, under an OPEC+ deal, state news agency Tass reported.
Sub-Saharan Africa will this year suffer its first recession for 25 years as a consequence of the coronavirus outbreak, a World Bank report predicts.
In a grim assessment, the bank says that the region's economy could shrink by as much as 5.1%.
It points to the impact that the virus will have on Africa's key trading partners as well as a fall in commodity prices as the main causes.
Several African countries are using lockdowns to control the virus' spread.
These will also negatively affect economic growth on a continent, which has had some of the world's fastest growing economies in recent years.
There are currently more than 11,000 confirmed cases of Covid-19, the disease caused by the virus, and there have been more than 570 confirmed deaths across Africa.
South Africa, one of the continent's largest economies, has been the worst hit and is about to enter the third week of a strict lockdown.
The World Bank said that sub-Saharan Africa could need an economic stimulus of as much as $100bn (£80bn) to help it recover.
The package should include temporary debt relief amounting to $44bn, the World Bank added in comments echoing earlier statements from African leaders, including Ethiopian Prime Minister Abiy Ahmed.
"Africa alone will not be able to contain the disease and its impacts on its own," Albert Zeufack, the bank's chief economist for Africa, said.
The World Bank predicts that overall sub-Saharan Africa's economy will be between 2.1% and 5.1% smaller by the end of the year.
The economies worst hit by the fallout from the coronavirus pandemic will be those which are dependent on the export of oil and minerals, such as Nigeria, Angola and South Africa, it said.
A SIMPLE GUIDE: How do I protect myself?
AVOIDING CONTACT: The rules on self-isolation and exercise
VIDEO: The 20-second hand wash
The report also raises the spectre of "a severe food security crisis" as agricultural production and imports fall.
In addition to debt relief, the World Bank recommends that sub-Saharan African countries need to focus on strengthening health systems. They should also develop policies to support the huge number of people employed in the informal sector, who have no access to any form of insurance, it said.
Last month, in an article in the Financial Times, Prime Minister Abiy said that "African economies are staring at an abyss".
He called on the G20 nations to provide support, particularly for the health systems, saying that "millions of lives are at risk".
MILWAUKEE - Two suspects have been arrested in the double homicide of a University of Wisconsin doctor and her husband.
Ali’jah J. Larrue, 18, was taken into custody Friday evening and booked into the Dane County Jail on two counts of party to a crime of first-degree intentional homicide. Early Friday, UWPD arrested Khari Sanford, 18, who also was charged with two counts of party to a crime of first degree intentional homicide.
About 6:30 a.m. March 31, a passerby who was jogging through the UW Arboretum came upon Beth Potter and Robin Carre lying in a ditch. Carre was pronounced dead at the scene and Potter was transported to a hospital, where she later died.
Police have said they believe the couple were targeted.
In a video briefing, University of Wisconsin-Madison Police Chief Kristen Roman did not detail exactly where, when or how the homicide may have unfolded. But she did repeat investigators’ belief that the killings were not a random act. She said Sanford is known to the Potter-Carre family.
“It was calculated, cold-blooded and senseless,” she said.
Potter, 52, was an associate professor in the Department of Family Medicine and Community Health at UW Medical School and the medical director of employee health services for UW Health.
Carre, 57, was an educational consultant who helped students in the college admissions process, according to his LinkedIn page. He is a former professor at Viterbo University.
Contributing: Elliot Hughes, Milwaukee Journal Sentinel
Follow Ricardo Torres on Twitter: @RicoReporting
This article originally appeared on Milwaukee Journal Sentinel: Wisconsin doctor and husband killed, two suspected arrested: Police