VIENNA — Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply.
Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said they would cut 800,000 barrels per day for six months from January, though some countries such as Iran, which is facing wide-ranging sanctions from the United States, have been given an exemption.
The balance will come from Russia and other non-OPEC countries. The United States, one of the world’s biggest producers, is not part of the deal.
“This is a major step forward,” said United Arab Emirates’ Energy Minister Suhail Mohamed al-Mazrouei, who chairs the regular meetings in Vienna in his capacity as President of the OPEC Conference.
Oil producers have been under pressure to reduce production following a sharp fall in oil prices over the past couple of months. The price of oil has fallen about 25
The reduction has certainly met with the response hoped for by ministers as it was at the upper end of most predictions. Following the announcement, Brent crude, the international standard, was up $2.79 a barrel, or 4.7
Ann-Louise Hittle, a
“For most nations, self-interest ultimately prevails,” she said. “Saudi Arabia has a long-term goal of managing the oil market to avoid the sharp falls and spikes which hurt demand and the ability of the industry to develop supply. On top of this, Saudi Arabia also needs higher oil revenues to fund domestic Saudi spending.”
Russian Energy Minister Alexander Novak called the negotiations with the OPEC nations “fairly challenging” but said the decision “should help the market reach a balanced state.”
“I think this is a strong signal to anybody who has doubted it that our
OPEC’s reliance on non-members like Russia highlights the cartel’s waning influence in oil markets, which it had dominated for decades. The OPEC-Russia alliance was made necessary in 2016 to compete with the United States’ vastly increased production of oil in recent years. By some estimates, the U.S. this year became the world’s top crude producer.
The cut is unlikely to be greeted warmly by U.S. President Donald Trump, who has been pressuring the cartel publicly to maintain production. On Wednesday, he tweeted: “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!”
One stumbling block to an agreement had been Iran, Saudi Arabia’s regional rival and fellow OPEC member, which had been arguing for an exemption to any cuts because its crude exports are already being pinched already by U.S. sanctions.
Al-Mazrouei said that in the end Iran had been given an exemption, as well as Venezuela and Libya.
That “means that the percentage we will contribute among us is going to be a bit higher,” he said.
“We within OPEC are committed to distribute the 800 (thousand bpd) among us and deliver on it.”
Rising reported from Berlin
Anthony Mills, Kiyoko Metzler And David Rising, The Associated Press
‘Freedom Convoy’ organizers’ trial on scheduled break until after Thanksgiving
Tamara Lich arrives for her trial at the courthouse in Ottawa, on Tuesday, Sept. 19, 2023. Lich and fellow Freedom Convoy organizer Chris Barber are charged with mischief, obstructing police, counselling others to commit mischief and intimidation. THE CANADIAN PRESS/Justin Tang
The trial of “Freedom Convoy” organizers Tamara Lich and Chris Barber has begun a scheduled break that will continue until after Thanksgiving.
The court finished hearing the testimony of Serge Arpin, the chief of staff to Ottawa’s former mayor, on Friday.
He spoke about how the city responded to the protest that overwhelmed the downtown core for three weeks in early 2022.
Arpin also testified about his interactions with convoy organizers while working out a deal with former mayor Jim Watson to move big-rig trucks out of residential neighbourhoods.
The evidence was originally due to be wrapping up by this point in the trial, which had been scheduled to last 16 days, but Arpin is just the fourth witness to finish his testimony.
The trial was expected to hear from 22 witnesses, leaving the court to ponder how much more time will be needed to reach the finish line.
Justice Heather Perkins-McVey, who is overseeing the trial, has identified several dates in October and November.
Lawrence Greenspon, the lawyer representing Lich, said he does not want to set new court dates until the Crown has established a new, more accurate time estimate for its case.
As of Friday, the trial is expected to resume Oct. 11.
Lich and Barber are charged with mischief and counselling others commit offences such as mischief and intimidation for their role in organizing and prolonging the demonstration.
The defence questioned Arpin Friday about how city council and staff attempted to put an end the protest. As the mayor’s chief of staff, Arpin told the court he sat in on every council meeting.
He was grilled about a bylaw change on Feb. 9 last year that banned idling in a vehicle unless the temperature fell at or below -15 C. The bylaw originally allowed idling if the temperature was below 5 C.
“City council … was attempting to freeze out the truckers and their families,” Greenspon told the court.
Arpin said he believed the intention was to bring the demonstration to an end.
Arpin was also involved in the deal between Watson, Lich and other organizers to move trucks out of residential neighbourhoods and onto Wellington Street, in front of Parliament Hill.
He texted back and forth with the convoy organizers’ lawyer Keith Wilson on Feb. 14 and 15 in an exchange that was filed as evidence in the trial.
The texts suggest city staff did not give protest organizers or their lawyers a heads-up about plans to file a court injunction against demonstrators who violated city bylaws.
“Just so you know, it is highly irregular for the city’s lawyers to have done this without providing us lawyers here with notice,” Wilson wrote to Arpin on Feb. 15.
“This could change everything.”
Arpin told Wilson he was under the impression they knew about the court filing, but said in court that he never informed them himself until after the injunction was granted by a judge.
Lawyers representing the convoy organizers were not given an opportunity to oppose the application in court at the time.
The deal between Lich and the mayor fell apart later that day when police would no longer allow trucks to move closer to Parliament.
Arpin confirmed the police service underwent a change in command that day as a result of the police chief’s resignation.
He apologized to Wilson at the time, the text messages show.
“Our goal has always been de-escalation and I know you share this goal,” he texted to Wilson on the 16th.
The Crown hopes to pick up its case in October with eight local witnesses from Ottawa who lived or worked downtown during the Freedom Convoy protest.
Lich and Barber have already admitted that there was mischief taking place in the protest zone.
Greenspon has argued that the testimony of those witnesses would be akin to victim impact statements, and therefore shouldn’t be allowed to be heard during the trial.
B.C. premier suspects Ottawa holding back information about foreign interference
A flock of birds flies past as Moninder Singh, front right, a spokesperson for the British Columbia Gurdwaras Council (BCGC), waits to speak to reporters outside the Guru Nanak Sikh Gurdwara Sahib in Surrey, B.C., on Monday, September 18, 2023, where temple president Hardeep Singh Nijjar was gunned down in his vehicle while leaving the temple parking lot in June. THE CANADIAN PRESS/Darryl Dyck
British Columbia Premier David Eby said he “strongly” suspects that the federal government is holding back information that could help the province protect its residents who have connections to India from foreign interference.
Public Safety Minister Dominic LeBlanc has reached out, saying Ottawa wants to make sure the provincial government has the details it needs to keep B.C. residents safe, “but there has not been good information sharing,” the premier said Friday.
Prime Minister Justin Trudeau revealed in Parliament on Monday that Canadian intelligence services were investigating “a potential link” between the Indian government and the fatal shooting of Sikh advocate Hardeep Singh Nijjar in Surrey, B.C., last June.
In response to the killing, Eby said on Friday that the priority should be protecting the criminal prosecution process so people can be held accountable for the killing.
But on the broader issue of ensuring community safety, he said there’s “a long way to go to share that information.”
Eby said people in B.C. have been “feeling pressure from India,” and he believes Ottawa has information through agencies including the RCMP and the Canadian Security Intelligence Service that could help respond to foreign interference.
The premier’s initial statement in response to Trudeau’s announcement called on Ottawa to “share all relevant information” related not only to foreign interference, but also to “transnational organized crime threats” in the province.
He said Friday that the prime minister had reached out before telling Parliament about the probe based on “credible” information about the potential link between India and Nijjar’s killing.
Eby accepted Trudeau’s offer for a briefing by CSIS, but everything the premier knows about the situation is “in the public realm,” he said.
“I expressed my frustration in the meeting with the CSIS director about our inability to get more concrete information,” Eby said.
He made the remarks during a media question-and-answer session after addressing local politicians at the Union of BC Municipalities conference.
Eby said he understands there may need to be reform around the law governing CSIS in order for the agency to share the kind of information he’s looking for.
“If that’s what’s required, let’s make it happen, because the only way that we’re going to make traction on this is by the federal government trusting the provincial government with information and being able to act on it in our local communities,” he said.
Nijjar was a prominent supporter of the Khalistan separatism movement that advocates for a Sikh homeland in India’s Punjab province. He had been working to organize an unofficial referendum among the Sikh diaspora on independence from India at the time of his killing.
India designated Nijjar as a terrorist in 2020, an accusation he had denied.
Canada and India expelled each other’s diplomats in the fallout of Trudeau’s announcement, and India has halted visa services in Canada.
India’s government has denied the accusation as “absurd and motivated.”
This report by The Canadian Press was first published Sept. 22, 2023.
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