Tag: china

  • 90 Argentine satellites to be launched in China

    China will send 90 satellites on its Long March-6 carrier rocket into orbit from the Taiyuan Satellite Launch Centre for an Argentine company, the China Great Wall Industry Corporation said on Friday.

    The corporation has signed a multiple launch services agreement with Satellogic, a private Argentine company specialising in Earth-observation satellites.

    “The first 13 satellites will be delivered later this year.

    “It will be the first time for the Long March-6 to provide launch services for an international user,’’ the corporation said.

    Read Also: Falcons lose 0-3 to China in Four-Nation Invitational

    After the 90 satellites are in orbit, an Earth observation satellite constellation will be formed, imaging the entire world with a 1-metre resolution every week.

    So far, the China Great Wall Industry Corporation has successfully launched six satellites for Satellogic.

    Satellogic provides solutions in the fields of agriculture, forestry, oil and gas, finance, and insurance, using satellite imaging.

  • Falcons lose 0-3 to China in Four-Nation Invitational

    The Super Falcons lost 0-3 to the Steel Roses of China on Thursday in a Four-Nation Invitational Football Tournament at the Huitang Stadium Meizhou Wuhua, China.

    Goalkeeper Tochukwu Oluehi, who made heroic saves enroute the Falcons’ ninth triumph at the 2018 African Women Cup of Nations (AWCON) in Ghana, was very helpful again.

    She made good saves to stop the Steel Roses from dazing the Falcons with goals.

    The very determined hosts took charge of the game with a Zhang Rui opener nine minutes into the game.

    The Falcons’ fightback was feeble, even though Ngozi Okobi’s a shot from the edge of the area went off target in the 22nd minute.

    Read Also: Super Falcons in tough France 2019 draw

    A brilliant save from Oluehi denied the Steel Roses from scoring their second goal after a great Gu Yasha’s free-kick just before half time.

    The Chinese’s persistence in attack proved worthwhile as Li Ying delivered the team’s second goal with a great finish in the 64th minute.

    She then completed her brace via a long ball from Wu Chengshu in the 92nd minute.

    Nigeria will face Romania, who lost 0-3 to Korea, for a third place spot, while China will battle South Korea in the finals.

    Both matches will come up on Sunday.

    The tournament is part of the Falcons’ preparations for this June’s FIFA Women’s World Cup in France.

    NAN

  • France 2018: Falcons begin shape up with 4-nation tourney

     

    Nine time African Champions Super Falcons will on Thursday file out against hosts China in the four nation tournament as part of their shape up programs ahead of the world cup in France.

    The match billed for Meizhou Olympic Sports Center in Wuhua will be the second match of the day coming after Korea Republic and Romania would have flagged off the competition in the first match.

    The Thomas Dennerby tutored side who  are expected to touch down later today (Tuesday) in China left the shores of the country Monday afternoon aboard Egypt Air and would be expected to use Wednesday for light training and  rest after close to 15 hours 55minutes flight. The delegation is made up of 16 players and nine officials.

    “Four players , defender Faith Michael, midfielder Rita Chikwelu  forwards Ini-Abasi Umotong and Chinaza Uchendu according to NFF director of communication Demola Olajire ,will fly direct to China from Europe to join the team

    The names of three time African woman player of the year Dalian Quanjian of China forward Assisat Oshoala and France based Disire Oparanozie were however missing from the list. Although Super Falcons won the Nations cup in Ghana beating South Africa to the title many believe that their quality of play remained below par and would need a lot of boosting before the World cup in June.

    The Four Nations Tournament is an invitational women’s football tournament taking place in various cities of China since 1998. Since 2002, it has been held every year except for 2010. United States, Norway, China, North Korea, and Canada are the only winners of various editions of this tournament. The United States has been the most successful, winning seven editions of the tournament; with China winning six editions and Norway winning two editions. Nigeria is the only African nation to feature in the tournament

    Full List

    Goalkeepers: Tochukwu Oluehi; Christy Ohiaeriaku and Chiamaka Nnadozie

    Defenders: Glory Ogbonna; Faith Michael; Onome Ebi; Osinachi Ohale; Ugochi Emenayo and Josephine Chukwunonye

    Midfielders: Amarachi Okoronkwo; Ngozi Okobi-Okeoghene; Rita Chikwelu and Halimat Ayinde

    Forwards: Anam Imo; Rasheedat Ajibade; Francisca Ordega; Chinaza Uchendu; Chinwendu Ihezuo; Ini-Abasi Umotong and Alice Ogebe.

  • China, Africa and Washington’s weird worry

    Last month, precisely on December 13, 2018, U.S National Security Adviser, Mr. John Bolton at a Washington D.C based think tank, Heritage Foundation unveiled what he called President Trump’s administration new Africa strategy which according to him has been approved by the president and would go into immediate execution. Bolton told his listeners that “this strategy is the result of an intensive inter-agency process and reflects the core tenets of President Trump’s foreign policy doctrine…and remains true to his central campaign promise to put the interests of the American people first, both at home and abroad”.

    But awkwardly, in discussing the America’s Africa strategy themed “Prosper Africa,” Bolton was more concerned about China in Africa which mentioned 17 times in a six page document, claiming that “China uses bribes, opaque agreements and the strategic use of debts to hold states in Africa captive to Beijing’s wishes and demands.” Mr. Bolton who once railed at the United Nations for being allegedly filled with slot and incompetence and suggested that it would not matter at all, if 10 of the 38 floors of the UN building were blown away, was at his traditional best in spewing hard rhetoric in describing China’s engagement with Africa as “predatory action”.

    In formulating their hostile rhetoric against China-Africa Cooperation, Bolton and the administration he serves, did not seem to have consulted any African government or any of its representative institutions or even Africa’s public opinion on the issue of their relations with China, with a consequence that the U.S Africa’s strategy is a barely concealed Washington grand strategy to contain China, with Africa featuring only as a mere battle ground. To drive home the un-substantiated fallacy about China-Africa Cooperation,. Bolton claimed that “the nation of Zambia is currently in debt to China to the tune of $6-10 billion” and that “China is now poised to take over Zambia’s national power and utility company in order to collect on Zambia’s financial obligations.”

    Zambia’s Presidency quickly retorted that this assertion is a lie from the pit of hell. It clarified that the country’s total debt stock was about $10.3 billion owned to a variety of international creditors with China’s share only about $3 billion and dismissed any suggestion that China plans to take over its utility company or any other of her national facilities. This is the kind of embarrassment Washington gets for manufacturing lies and slander to inveigh at one of Africa’s most productive international partnership and engagements.

    Africa’s leadership at several collective fora and individually has firmly signaled that the continent’s space is too wide to contain all kinds of international partners and therefore, extrapolating the discredited zero-sum game in what Bolton called “great power competition” to Africa is outdated and would not find a serious, recipient in a contemporary Africa, open to business with the rest of the world. China has never considered Africa to be her exclusive preserve despite a long trajectory, stretching from solidarity generated from struggles against colonial domination and for national independence to avid cooperation to build their respective national economies to improve quality of lives of their respective peoples. In fact, Beijing has repeatedly called for more international attention to Africa and urged for vigorous global partnerships to help Africa overcome some of its existential challenges, with herself leading the way despite such distractions as Washington’s weird worries.  According to Bolton, “the predatory practices pursued by China…stunt economic growth in Africa, threaten the financial independence of African nations, inhibit opportunities for U.S investment, interfere with U.S military operations and pose significant threat to U.S national security interests”. It is very likely that any time Bolton or any of the U.S administration official travels to anywhere in Africa, he or she would be landing at China’s assisted airport terminals, drive on Beijing assisted highways and should he chose to travel by contemporary modernized railway, would be enjoying the cruise on China-built standard gauge railway lines that is giving practical effect and filling the gap of connectivity and integration, the historical deficit of pan-Africanism and continental unity.

    If Bolton begrudges the significant strides in China-Africa cooperation as “predatory practices that ‘stunt’ growth in Africa, then the U.S new strategy on Africa has certainly not benefited from the inputs of U.S resident diplomats in Africa who are witness to the daily giant strides of China-Africa cooperation in the course of the changing face of the continent.

    Washington’s concerns that China in Africa would “inhibit opportunities for U.S investment, interfere with U.S military operations and pose significant threat to U.S national security interests are plainly weird and grossly out of place, except if Washington means that her new strategy in Africa is to undermine Africa and her international partnership.

    In her profound and engaging pioneering work on China-Africa, the U.S professor, Deborah Brautigam wrote in “The dragon’s gift: the real story of China in Africa” that “China is now a powerful force in Africa and the Chinese are not going away. Their embrace of the continent is strategic, planned, long term and still unfolding… Ultimately, it is up to Africa governments to shape this encounter in ways that will benefit their people. Many will not grasp this opportunity but some will. The West can help by gaining a more realistic picture of China’s engagement, avoiding sensationalism and paranoia, admitting our shortcomings, and perhaps exploring the notion that China’s model of consistent non-intervention may be preferable to one that regularly intervenes in other countries domestic affairs or uses of military force  to foster political change.”

    Given that Prof. Brautigam first wrote these instructive lines in 2009, the current U.S Africa strategy which Bolton discussed last month with so much gusto appeared totally outdated and even out of context to the current conditions and stage of China-Africa cooperation.

    Notwithstanding, the current Washington’s weird worries and concerns about China-Africa relation, the United States certainly have legitimate interest in Africa and should cultivate it just like others to contribute to her national aggregates. As traditional friend to Africa with considerable soft power influences on the continent, United States can explore the opportunities that Africa presents to the world with its growing market, resource endowments and the resilience of her civil communities.

    But to maximally benefit from the opportunities of contemporary Africa in contributing to making America great again,” slandering Africa’s foremost contemporary partnership with China or seeking the outdated cold-war strategy to contain Beijing is a pathetic non-starter.

    In China-Africa cooperation and partnership, Washington should eschew undue intervention, show modesty and respect by at least allowing those directly involved to lead commentaries on the issues of the relationship.

    At the recent summit of China and Africa in Beijing last September, the two sides agreed to themselves to build a community of shared future and common destiny, declaring to jointly leverage the Belt and Road international cooperation to fill the gaps of their development needs and urged the rest of world, including the United States to key in, to the emerging paradigm of international cooperation and consensus building.

     

    • Onunaiju, director, Centre for China Studies (CCS), Abuja. 
  • S/Falcons to play ten matches before 2019 Women’s World Cup – NFF

    The Nigeria Football Federation (NFF) on Thursday said it has put in place plans to provide the Super Falcons with better preparations for the 8th FIFA Women’s World Cup finals.

    Ademola Olajire, NFF’s Director of Communications, said in a statement that the federation had made plans for the African champions to participate in about 10 matches altogether.

    “Participation in the Four-Nation Invitational Tournament in China from Jan. 17 to Jan. 20 will be followed by participation in the Cyprus Women’s Cup billed for Feb. 25 to March 7.

    “They will then play planned friendly matches with Spain or Canada before a final training camp in Austria that could also take in two tune-up games,’’ he said.

    Already, the NFF has announced that the Falcons would have their final camping programme at the same Avita Hotel and Resort in Bad Tatzmannsdorf in Austria.

    The News Agency of Nigeria (NAN) reports that the Super Eagles stayed at that same facility before heading to Russia to participate in the 2018 FIFA World Cup finals.

    Read Also: Super Falcons in tough France 2019 draw

    Olajire disclosed that players and officials of the nine-time African champions were on Tuesday at the Embassy of China in Abuja for visa processing.

    “The team is expected to fly out of Nigeria to China on Monday,’’ he said.

    Hosts China, Romania and Korea Republic are the other teams taking part in the four-day invitational.

    The NFF official added that the players and officials would on return from the invitational tournament in China begin visa processing for the trip to Cyprus.

    “They will take part in a 12-nation Invitational Tournament between Feb. 25 and March 7.

    “Austria, Belgium, Czech Republic, Finland, Hungary, Italy, North Korea, Mexico, Slovakia, South Africa and Thailand are the other nations taking part.

    “Of the lot, Nigeria, Italy, South Africa and Thailand will be going to France,’’ he said.

    Olajire disclosed also that Spain and Canada have approached Nigeria for friendly matches.

    Spain will face South Africa, Germany and China in Group B at France 2019, while Canada will also take on African team Cameroon, New Zealand and The Netherlands in Group E.

    “Jamaica, who play Australia, Italy and Brazil in Group C, have also written to the NFF expressing interest in playing against the Super Falcons,’’ he added.

    Nigeria are the only African country to have featured in all previous editions of the FIFA Women’s World Cup since the competition was launched in China in 1991.

    The African champions, who are the Women National Team of Year 2018 in Africa, will tackle host nation France, Korea Republic and Norway in Group A of this summer’s finals.

    The Super Falcons, who were quarter-finalists in 1999, will open their account in France against Norway, at the 21,000-capacity Stade Auguste Delaune in Reims on June 8.

    They will then face Korea Republic in Grenoble on June 12 and hosts France in Rennes on June 17.

    The 8th FIFA Women’s World Cup finals will hold from June 7 to July 7.

    France will be up against Korea Republic in the opening match at the Parc des Princes in Paris on June 7.

  • Influenza activities in China lower than in last flu season

    China’s current influenza activity level is lower than the same period as in 2018, Authorities have said, citing the latest influenza surveillance statistics.

     

    The viruses that have so far been detected this flu season in China were mainly influenza virus A subtypes H1N1 and H3N2, and only in a tiny minority of cases B virus lineages Victoria and Yamagata, data showed.

    Read Also:Buratai condoles with Shagari family

     

    Most of China’s provinces and regions have now entered the flu season that spans from winter 2018 to spring 2019, reporting a continued increase in influenza activity, according to Chinese Centre for Disease Control and Prevention.

     

    “Beijing’s influenza surveillance data indicate that the peak of the flu season is already here,’’ said Pang Xinghuo, deputy director of the Beijing Centre for Diseases Prevention and Control.

     

    On preventing the flu, she noted the importance of washing hands properly and covering up when sneezing or coughing.

     

    Pang, urged the elderly and children to avoid places that are crowded or poorly ventilated.

  • China takes centre stage in Africa through infrastructure

    Chinese contractors have taken centre stage in the implementation of infrastructure projects in Africa, as funding by the continent’s development finance institutions shrinks.

    However, investment in social sectors, such as health and education remained low, according to the report Africa Construction Trends (2018) by consultancy firm Deloitte.

    The report, released last week, shows that East African governments fund only 12.9 per cent of their projects in the region, with China and international financiers funding 25.9 per cent and 20.1 per cent.

    “The significant role played by China in advancing funding for infrastructure development in East Africa speaks to the importance of the region as a touch-point for China’s Belt and Road Initiative,” the report says.

    The initiative is Beijing’s multi-billion-dollar Marshall Plan that seeks to strengthen Chinese global dominance through investment in infrastructure around the world worth more than $1 trillion.

    President Xi Jinping has a grand plan to connect Asia, Africa and Europe through mega projects. The initiative involves infrastructure development and investments.

    From Southeast Asia to Eastern Europe and Africa, the initiative connects 71 countries that account for half the world’s population and a quarter of global GDP.

    So far, Chinese companies have secured more than $340 billion in construction contracts along the Belt and Road.

    The initiative was launched by President Xi Jinping in September and October 2013 during visits to Kazakhstan and Indonesia.

    Sector

    According to the report, 33 per cent of the 482 projects tracked this year were built by Chinese companies and 24 per cent by local contractors.

    However, large-scale investment in social development and education projects remained low, at 0.1 per cent each across the continent.

    The majority of the infrastructure projects were in the transport sector (38.6 per cent), followed by real estate (22.8 per cent), energy and power (13.7 per cent) and shipping and ports (7.5 per cent).

    According to the report, the transport sector, valued at $107 billion, represented 22.7 per cent of the continent’s total spend on large construction projects, with governments and China being the two significant funders of the sector.

    The report notes that although African governments continue to fund the largest share of projects, particularly in the transport sector, the Chinese influence on the continent is increasing with 19 per cent of the projects being funded by China (close to one in every five projects) followed by international development finance institutions with (13.7 per cent), and private domestic firms with (10.6 per cent).

    China is the most prolific (and single country) builder of projects, constructing 160 (33.2 per cent) projects this year, up from 85 last year.

    The majority of Chinese construction also falls within the transport sector.

    Other single-country builders include Italian firms, although they are some way behind with 21 projects (4.4 per cent), followed by French firms with 15 projects (3.1 per cent).

    East Africa has the largest number of projects at 139 (29 per cent) and North Africa accounted for the largest share of projects in terms of value, at 31.5 per cent ($148.3 billion).

    Egypt has the most projects at 46 (9.5 per cent of projects on the continent) as well as the most projects by value at $79.2billion (17 per cent of the continent’s value), more than South Africa and Nigeria.

    According to the report, African governments own 364 projects (75.5 per cent), followed by private domestic firms (9.3 per cent).

    Firms headquartered in China own 3.3 per cent of Africa’s infrastructure projects, followed by firms in Australia (2.5 per cent), and the Middle East (2.5 per cent).

    According to the report, the total number of projects in East Africa rose by 96 per cent between 2017 and 2018, with high value projects such as Kenya’s Konza Technology Park and Tanzania’s Bagamoyo megaport boosting the region’s infrastructure agenda.

    Kenya has the largest number of projects in East Africa, with 41 projects valued at $38.2 million, followed by Ethiopia with 38 projects valued at $19.1 million.

  • China detains ex-Canadian diplomat as Huawei CFO fights bail battle

    A former Canadian diplomat has been detained in China, two sources said on Tuesday, just hours before a top executive at Chinese telecoms giant Huawei Technologies is set to return to a Vancouver courtroom for a bail hearing.

    The bail hearing has angered Beijing and the detention of the Canadian was believed to be part of  China desire to deal squarely with the scenario.

    It was not immediately clear if the cases were related, but Canadian analysts had already predicted China would retaliate after the arrest of Huawei CFO Meng Wanzhou at the request of U.S. authorities.

    The former diplomat is Michael Kovrig, who is based in China and works for the International Crisis Group, which said it was seeking his prompt and safe release.

    Canadian foreign ministry officials said they were not immediately able to confirm that Kovrig was in detention.

    China has threatened severe consequences unless Canada releases Meng immediately. Canadian Prime Minister Justin Trudeau says the matter is one for the courts to decide.

    Tuesday will be the third day of bail hearings in a British Columbia court, where a judge will weigh final issues in determining whether Meng should be freed on bail while awaiting extradition proceedings.

    Meng, 46, faces U.S. accusations that she misled multinational banks about Huawei’s control of a company operating in Iran.

    Her actions reportedly put the banks at risk of violating U.S. sanctions, incurring severe penalties, court documents said.

    The judge on Monday rolled the proceedings over to Tuesday because he wanted to hear more from both sides about the issue of surety – who will take responsibility for Meng’s actions if she were released.

    Meng’s lawyer David Martin had offered her husband as surety.

    But the judge and the public prosecutor questioned whether Liu Xiaozong, Meng’s husband, could perform this duty as he is not a resident of British Columbia and would not suffer if she were to breach her bail conditions.

    Intent on getting Meng out of detention and into one of her two luxury homes in the city, defense lawyer Martin is offering up high-tech surveillance devices and a 24-hour security detail to ensure his client does not flee.

    He has also proposed a C$15 million ($11.3 million) bail guarantee and pledged Meng would hand over all her passports and travel documents to Canadian police, the court heard.

    The arrest has roiled markets over fears it will exacerbate tensions between the U.S. and China in trade negotiations that both sides have agreed must be concluded by March 1.

    Speaking at a forum in Beijing on Tuesday, the Chinese government’s top diplomat, State Councillor Wang Yi, said the government kept constant watch on the safety of Chinese citizens abroad, though did not directly mention Meng’s case.

    “For any bullying that wantonly violates the legitimate rights and interests of Chinese citizens, China will never sit idly by,” state television quoted him as saying.

    Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones, with revenue of about $92 billion last year.

    Unlike other big Chinese technology firms, it does much of its business overseas.

    U.S. officials allege the telecom giant was trying to use multinational banks to move money out of Iran.

    Companies are barred from using the U.S. financial system to funnel goods and services to sanctioned entities.

    Huawei and its lawyers have said the company operates in strict compliance with applicable laws. (Reuters/NAN)

  • Nigeria lauds international support on Boko Haram

    Nigeria has lauded the international support to the country and neighbouring countries in addressing the challenges caused by the Boko Haram terrorists and the shrinking of the Lake Chad.

    Nigeria’s Ambassador and Permanent Representative to the UN, Prof. Tijjani Bande, stated this in New York at the ‘Security Council Open Debate on the Role of States, Regional Arrangements and the United Nations in the Prevention and Resolution of Conflict.

    Bande said “As we all know, the Lake Chad region has been facing its worst crisis ever, primarily because of the impact of climate change.

    “However, the ability of the Lake Chad basin countries to obtain international support and attention is paying off.

    “An array of countries – Norway, Germany, UK, U. S., China, Canada and others – have joined the UN to provide financial and technical support to the on-going efforts to not only conquer Boko Haram, but also work at the same time across the whole pillars, as the only way forward.

    “Indeed, so successful has this been, since the visit by the Security Council in March 2017, and the various pledging conferences – Abuja, Oslo and Berlin – that we are even talking of recharging of the basin, to restore and or stabilise the livelihood of some 45 million people affected by this unfortunate situation.

    “Through it all, ECOWAS, AU and the UN have been working very well together to galvanise support, towards the same end”.

    Bande pledged Nigeria’s resolve to continue to support efforts at maintaining peace and security in all regions of the world.

    According to him, more than ever, there is the need to strengthen collaboration between the UN and the various regional and sub-regional organizations around the world.

    The need to ensure that effective and mutually reinforcing mechanisms (both regional and global) that are flexible and responsive enough to ensure peaceful coexistence among communities are prioritized, he said, were critical.

    Bande said it was imperative to ensure that a means of financing regional bodies-led peace support operations that were authorized by the Security Council would be predictably and sustainably worked out.

    “We owe this to the millions that suffer and are waiting for our help.

    “In this regard, I wish to commend the Secretary-General on the current AU-UN partnership on peacekeeping, as this is a right step in the right direction,” he said.

    The envoy said in the effort to prevent and resolve conflicts, there is the need to also take due cognizance of the structural challenges to peace and security.

    These challenges, like climate change, mismanagement of natural resources, cross border and international crime, are at the root of some of the worst conflicts of our time, he said.

    The Nigerian envoy added that the challenges are best tackled through a broad collaboration among States, sub-regional and regional organisations and the UN.

    NAN reports that the UN says nine years into the conflict, the humanitarian emergency in the Lake Chad region is among the most severe in the world.

    The world body says while the crisis is unfolding in a region already affected by severe underdevelopment, poverty and climate change.

    The impact on the lives of around 17 million people is devastating, with women, youth and children bearing the brunt.

    In 2018, more than 10 million people require humanitarian assistance and protection.

    The humanitarian response was expanded significantly in 2017, reaching over six million people with life-saving assistance and protection, and effectively averting a famine.

    But needs in the affected regions remain acute and will persist at large scale into 2019 and beyond. Humanitarian organisations are requesting 1.6 billion dollars for 2018.

    Support from the international community to national efforts will be essential in the coming months to ease hunger, provide water, shelter, hygiene, healthcare, protection and education, and help communities rebuild their lives and livelihoods.

    The UN also said without continued assistance, hard hit communities risk sliding back into distress.

  • Oil rises two per cent on US, China trade truce

    Oil prices jumped yesterday after the United States (U.S.) and China agreed a 90-day truce in a trade dispute, Canada’s Alberta province ordered a production cut, and as exporter group Organisation of Petroleum Exporting Countries (OPEC) looked set to reduce supply.

    U.S. light crude oil last traded $1.31, or 2.6 per cent, higher at $52.24. Brent crude was up $1.36, or 2.3 per cent at $60.82.

    Both benchmarks surged by more than five per cent earlier in the session.

    China and the U.S. agreed during a weekend meeting in Argentina of the Group of 20 leading economies not to impose additional trade tariffs for at least 90 days while they hold talks to resolve existing dispute.

    The trade war between the world’s two biggest economies has weighed heavily on global trade, sparking concerns of an economic slowdown.

    Crude oil has not been included in the list of products facing import tariffs, but traders said the positive sentiment of the truce was also driving crude markets.

    Oil also received support from an announcement by the Canadian province of Alberta that it would force producers to cut output by 8.7 per cent, or 325,000 barrels per day (bpd), to deal with a pipeline bottleneck that has led to crude building up in storage.

    “From Argentina to Alberta, the oil market news is about supply curtailments. A brightening market mood will likely extend today’s price rally in the very near term,” said Norbert Rücker, head of commodity research at Swiss bank Julius Baer.

    OPEC meets on Dec. 6 to decide output policy. The group, along with non-OPEC member Russia, is expected to announce cuts aimed at reining in a production surplus that has pulled down crude prices by around a third since October.

    “Markets are expecting to see a substantial production cut after Russian President Vladimir Putin said his country’s cooperation on oil supplies with Saudi Arabia would continue,” said Hussein Sayed, chief market strategist at brokerage FXTM.

    Within OPEC, Qatar said yesterday it would leave the producer club in January.

    Qatar’s oil production is only around 600,000 bpd, but it is the world’s biggest exporter of liquefied natural gas (LNG).