BAKU/DUBAI/LONDON – OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic and said they had an unprecedented deal with fellow oil nations, including the United States, to curb global oil supply by 20 percent. Measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers and hammering the U.S. shale industry, which is more vulnerable to low prices due to its higher costs. The group, known as OPEC Plus, said it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June, after four days of talks and following pressure from U.S. President Donald Trump to arrest the price decline. The biggest oil cut ever is more than four times deeper than the previous record cut in 2008. Producers will slowly relax curbs after June, although reductions in production will stay in place until April 2022.
In this Sunday, Sept. 4, 2016 photo, U.S. President Barack Obama arrives at the Hangzhou Exhibition Center to participate in G-20 Summit in Hangzhou, China. In this Sunday, Sept. 4, 2016 photo, Russian President Vladimir Putin arrives at the Hangzhou Exhibition Center to participate in G-20 Summit in Hangzhou, China. The White House says President Barack Obama, French President Francois Hollande and German Chancellor Angela Merkel are meeting on the sidelines of the G-20 summit to review the status of the conflict. Xi shook hands and posed for photos Sunday afternoon with leaders including President Barack Obama, German Chancellor Angela Merkel and Russian President Vladimir Putin with a G-20 backdrop.
More than 60 world leaders gathered in Paris Sunday to mark 100 years since the end of World War I, and although the general theme was unity, President Donald Trump seemed determined to stand apart. While world leaders took a bus to the Arc de Triomphe and walked side-by-side as bells tolled to mark the exact moment 100 years ago when the war ended, Trump arrived with his own motorcade. Russian President Vladimir Putin also arrived separately and walked in by himself to the ceremony that included, among others, German Chancellor Angela Merkel, Canadian Prime Minister Justin Trudeau, and Israeli Prime Minister Benjamin Netanyahu. White House press secretary Sarah Huckabee Sanders said Trump arrived separately "due to security protocols." But his insistence on standing apart didn't sit well with others, particularly after Trump drew fire for his decision to cancel his appearance at a memorial service Saturday because of rain.
OTTAWA - Prime Minister Shinzo Abe agreed with his Canadian counterpart Justin Trudeau to seek the rule of law in resolving international issues, including China's arrest of two Canadian citizens. Beijing has detained the pair since December on allegations of harming national security. Their detention followed Canada's arrest of Meng Wanzhou -- chief financial officer of Huawei Technologies Co. -- at the request of the United States, which has accused her of helping the company evade U.S. sanctions on Iran. During a meeting Sunday in the Canadian capital, Trudeau voiced his concern to Abe. The two agreed to request that China play a constructive role in the international community, Japanese officials said.
Russian President Vladimir Putin, left, listens to U.S. President Barack Obama in Hangzhou in eastern China's Zhejiang province, Monday, Sept. 5, 2016. Russian President Vladimir Putin, left, listens to U.S. President Barack Obama in Hangzhou in eastern China's Zhejiang province, Monday, Sept. 5, 2016. Russian President Vladimir Putin, left, shakes hands with U.S. President Barack Obama in Hangzhou in eastern China's Zhejiang province, Monday, Sept. 5, 2016. A sit-down between Obama and Turkish President Recep Tayyip Erdogan also laid bare the NATO allies' diverging interests in Syria, with Erdogan pointedly challenging Obama on U.S. support for Kurds fighting the Islamic State group in Syria.