Black Immigrant Daily News

OPEC and allied oil-producing countries, including Russia, cut their supplies to the global economy by 100,000 barrels per day, underlining their unhappiness with crude prices that have sagged because of recession fears.

The decision Monday by energy ministers means the cut for October rolls back the mostly symbolic increase of the same amount in September. The move follows a statement last month from Saudi Arabia’s energy minister that the group could reduce output at any time.

Oil producers such as Saudi Arabia have resisted calls from US President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers.

But worries about slumping future demand have helped send prices down from June peaks of over $120 per barrel, cutting into the windfall for the government budgets of OPEC+ countries but proving a blessing for drivers in the US as pump prices have eased.

The energy ministers said in a statement that the September increase was only for that month, and that the group could meet again at any time to address market developments.

Other factors are lurking that could influence the price of oil. For one, the Group of Seven major democracies plan to impose a price cap on imports of Russian oil and what effect that might have on the market. The price level for the cap has not yet been set.

Meanwhile, a deal between Western countries and Iran to limit Tehran’s nuclear program could ease sanctions and see more than 1 million barrels of Iranian oil return to the market in coming months. However, tensions between the US and Iran appear to have risen in recent days: Iran seized two US naval drones in the Red Sea, and US, Kuwaiti and Saudi warplanes flew over the Middle East on Sunday in a show of force.

Oil prices have gyrated in recent months: Recession fears have pushed them down, while worries of a loss of Russian oil because of sanctions over its invasion of Ukraine pushed them up.

Recently, recession fears have taken the upper hand. Economists in Europe are pencilling in a recession at the end of this year due to skyrocketing inflation fed by energy costs, while China’s severe restrictions aimed at halting the spread of the coronavirus have sapped growth in that major world economy.

Those falling oil prices have been a boon to US drivers, sending gasoline prices down to $3.82 per gallon from record highs of over $5 in June.

That month, fears that US and European sanctions would take Russian oil off the market helped push Brent to over $123. Those concerns are still out there because European sanctions aimed at Russian oil shipments won’t take effect until the end of the year.

By DAVID McHUGH AP Business Writer

NewsAmericasNow.com

Black Immigrant Daily News

[Update: 5pm, September 4, 2022]

The deceased in the latest fatal shooting at Lynches, St Philip has been identified.

He is Patrick Moore, 51, of River Land, St Philip.

Police are investigating another shooting death which appears to now be the country’s 29th murder for 2022.

At Lynches, St Philip, according to police, it was reported about 8:40 pm last night, Saturday, September 3, 2022, that there were a number of people liming in an area under a street light playing dominoes, when a vehicle approached the area stopped and suddenly a number of masked men jumped out the car and started shooting.

The crowd scattered for safety. Moments later one man was found in the area lying motionless with several noticeable injuries. No one else received or complained of being injured.

The victim was pronounced dead by a medical doctor who visited the scene.

Investigations are ongoing.

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Black Immigrant Daily News

Members of the public may soon see changes to Cayman’s tobacco legislation. This is according to statements made at a press briefing last week by Dr Autilia Newton, Cayman’s interim chief medical officer and Sabrina Turner, Minister for Health and Wellness.

Speaking about the development, Minister Turner said:

A significant win for our country [is that] recently the Cayman Islands has become the first United Kingdom Overseas Territory in the Caribbean to request the extension of the World Health Organization’s Framework Convention on Tobacco Control legislation to our country.

Now, this convention is an evidence-based treaty that addresses another global pandemic that claims seven million lives every year. That’s tobacco.

I am happy and proud to say that this legal framework will allow us to develop and expand more comprehensive approach to tobacco control that will pay dividends in strengthening the health and wellness of our population.

Explaining why the Cayman Islands is now in a position to have the World Health Organization (WHO) Framework Convention on Tobacco Control extended to the Cayman Islands, Dr Newton said:

To be able to ask for the extension, you have to fill in this table… [which] shows that your local legislation has already been amended to accommodate the framework requirements.

Cabinet wouldn’t have been able to ask for the extension if the work had not already been done.

Now, the people will be assessed by the FCDO colleagues and Department of Health & Social Care in the UK and they will say “yes that’s right.” Then, there is additional legislation that you can introduce which is to do with the graphics on the package and all the elements… and this is then up to us to see whether we want to that order step forward.

The whole point is [to] reduce prevalence of smoking and support people who want to quit smoking.

Because of the anticipated government campaign to reduce the prevalence of smoking which will accompany the foregoing WHO convention extension, Loop News posed the question to Dr Newton whether she had any particular view if the use of tobacco was more dangerous than the use of cannabis.

In response, Dr Newton said:

To answer this question, I would have to prepare a bit better and so, because it’s … you have to review all your literature.

It’s not only me giving you my personal position.

I will have to look at the evidence to give you a more correct answer, a more precise answer.

As a result of these announcements, smokers and non-smokers alike eagerly await the details of the implementation of the extension of the WHO’s Framework Convention on Tobacco Control to Cayman.

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