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A10 WORLD NEWS
Friday 7 december 2018

OPEC delays oil output decision pending Russia talks

By KIYOKO METZLER lack of clarity put another
CARLO PIOVANO dent in the price of oil. The
Associated Press international benchmark,
VIENNA (AP) — OPEC Brent, was down $2.20 at
countries hoping to support $59.36 a barrel on a day
the price of oil put off their when stock markets also fell
decision Thursday on how sharply around the world.
much to reduce oil produc- The fall in the price of oil will
tion until they negotiate be a help to many consum-
with ally Russia on Friday on ers as well as energy-hungry
how much it will contribute businesses, particularly at a
to the cut. time when global growth
Some saw it as a sign that is slowing. And Trump has
the group of oil-producing been putting pressure pub-
nations may not have the licly on OPEC to not cut
political unity to rein in sup- production. He tweeted
ply and is suffering under Wednesday that "Hope-
political pressure from U.S. fully OPEC will be keeping
President Donald Trump to oil flows as is, not restricted.
not push prices up again. The World does not want
Others interpreted it as to see, or need, higher oil
a tactic to get Russia to Minister of Energy of the United Arab Emirates, UAE, Suhail Mohamed Al Mazrouei talks with prices!"
agree to big cuts as well. Mohammad Sanusi Barkindo, from left, OPEC Secretary General of Nigeria prior to the start of a While Saudi Arabia has indi-
The price of oil has fallen meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in cated it is willing to cut pro-
Vienna, Austria, Thursday, Dec. 6, 2018.
about 25 percent because Associated Press duction, its decision may
major producers — includ- be complicated by Trump's
ing the U.S. — are pumping rels a day. ber, has resisted any no- ed. decision to not sanction
oil at high rates. It fell further But upon leaving the meet- tion of cutting its output as Some experts saw that as the country over the killing
on Thursday after OPEC's ing, Saudi oil minister Kha- its crude exports are being a tactical move by OPEC of dissident journalist Ja-
lack of action and amid lid Al-Falih said "we're still pinched already by U.S. countries to not announce mal Khashoggi. U.S. Sena-
broader concerns about deliberating." He said the sanctions. It has wanted an a production level as they tors say, after a briefing
global economic growth. OPEC countries were still exemption. prepare to ask Russia and with intelligence services,
Saudi Arabia, the heavy- discussing the distribution The OPEC countries will several other smaller non- that they are convinced
weight within OPEC, said of the cuts between them. now discuss the meeting OPEC countries to also cut that Saudi's de-facto ruler,
Thursday it was in favor of a Iran, Saudi's regional rival with Russia, which is not their output. Crown Prince Mohammed
cut of about a million bar- and fellow OPEC mem- part of OPEC but has been "If they would, then (Russia bin Salman , was involved
coordinating its output lev- and others) could adjust in Khashoggi's death. Some
els to support the market. their negotiation strategy," experts say that gives the
Al-Falih said a decision said Jan Edelmann, analyst U.S. some leverage over
would take all day Friday. at HSH Nordbank. the Saudis, though Al-Falih
"I'm not confident," he add- Whatever the logic, the denied that on Thursday.q

New Zealand police search for

22-year-old British tourist

By NICK PERRY investigation is focusing on is," Beard said. "At the mo-
Associated Press videos from surveillance ment, we don't have any
WELINGTON, New Zealand cameras around the city. evidence of foul play but
(AP) — New Zealand po- He urged anyone who has we're keeping an open
lice were searching Thurs- seen Millane or knows her mind."
day for a 22-year-old British to contact police. Beard said Millane's father
tourist who has been miss- "The police investigation was on his way to New
ing for five days and failed today has concentrated Zealand.
to contact her parents on on her movements and Millane's brother, Michael
her birthday. activities in Auckland Millane, posted an appeal
Grace Millane was last since she's arrived in New for help on Facebook. He
seen on Saturday eve- Zealand," Beard said. "A said they had been in con-
ning in central Auckland. large part of that focus has tact with the British High
She had been staying at been around CCTV foot- Commission in Wellington.
a backpacker hostel and age around Auckland." "Grace has been missing
left some of her belong- Police released a blurry for five days," he wrote.
ings there. Her birthday image of Millane taken "She has not returned to
was on Sunday and police from a surveillance cam- her hostel room in Auck-
said it was unusual for her era in which she is wearing land, New Zealand, and
not to contact her family a black dress and white family members have had
then. sneakers. no contact since Saturday
Detective Inspector Scott "The longer this goes on 1st December."q
Beard told reporters the the more concerning it