World

OPEC marks 5th anniversary of landmark ‘Vienna Agreement’

VIENNA, 30th November, 2021 (WAM) — The Organisation of the Petroleum Exporting Countries (OPEC) today marks the 5th anniversary of the historic ‘Vienna Agreement’ reached at the 171st Meeting of the OPEC Conference held on 30 November 2016 in Vienna, Austria.

The milestone meeting built on the successful ‘Algiers Accord’, reached in Algiers, Algeria, on 28 September 2016 at the 170th (Extraordinary) Meeting of the OPEC Conference and paved the way for the historic Declaration of Cooperation (DoC) between OPEC Member Countries and leading non-OPEC oil producing nations to work together in the interest of sustainable oil market stability.

The Conference saw OPEC Member Countries reinforce their joint efforts to overcome a then-unprecedented oil market downturn, reduce inventory overhang, particularly in the OECD region, and revive the necessary investment to support energy security and market stability in the short, medium and long terms.

In recalling the momentous meeting, OPEC Secretary General, Mohammad Sanusi Barkindo, stated: "The volatility seen in the oil market in 2016 was unprecedented for many; however, there was a strong consensus that the way forward requires collaboration, leadership and extensive diplomacy – some of the key characteristics that have underpinned the Organisation’s work since its founding 61 years ago.

"The ‘Vienna Agreement’ constitutes an historic moment in the history of the oil industry, as well as in international cooperation and multilateralism, as it led to the institutionalization of a global framework that not only helped the oil industry immediately, but also years later when the COVID-19 pandemic broke out in 2020 and caused a severe oil market contraction."

Five years ago, on the last day of November, OPEC Members called on non-OPEC oil-producing nations to join an initiative to cooperate on a regular basis to support oil market stability, highlighting the key role that non-OPEC producers can play in achieving this all-important objective. They additionally adopted oil production adjustments and established a high-level ministerial monitoring committee to review the implementation of these decisions.

These efforts were carried out to help restore stability in the global oil market for the benefit of all producers, consumers and investors, as well as the global economy. They additionally underpinned the Organization’s views on the importance of multilateralism, international cooperation and dialogue.

World

Israel has not met requirements to join Visa Waiver Program: US

Israel has not met eligibility requirements to join the US Visa Waiver Program (VWP), the US State Department said on Wednesday, after Israeli Prime Minister Benjamin Netanyahu said he expected his country to join soon.

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Israel is yet to grant free passage for Palestinian-Americans at its airports and into the occupied West Bank, which Washington says is required for Israel to meet the condition of reciprocity to join the program, which would allow Israelis visa-free access to the United States.

Israel “still has significant work to complete on a short timeline to meet all program requirements” by the end of the fiscal year on September 30, deputy spokesperson Vedant Patel said by email.

The apparent discord came as tensions spiked between the allies over a contested Israeli judicial overhaul plan.

Netanyahu said earlier on Wednesday that new legislation meant Israel would join in September, and that Israel would in the coming months address outstanding requirements, which it did not detail.
It was unclear if Israel planned to change its approach to Palestinian-Americans.

“Participation in the VWP requires that Israel provide equal treatment and entry rights to all US citizens and nationals, at Israel’s ports of entries and checkpoints, just as the United States would grant such visa-free travel privileges to Israeli citizens,” said the State Department's Patel.

“This includes Palestinian-Americans, including those on the Palestinian Authority population registry.”

Before Netanyahu's announcement, his national security adviser, Tzachi Hanegbi, said on Twitter that parliament was due to ratify the last of four bills “that will advance us toward getting the US visa waiver for the citizens of Israel.”

That appeared to refer to the Knesset plenum’s approval in final readings on Wednesday of a law setting up a new national immigration database linked with airline passenger manifests.

Washington had previously called for greater access to databases in Israel about its travelers to the United States.

White House: US doesn’t believe civil war will break out in Israel

Israel’s President Herzog urges immediate halt to judicial overhaul

World

Sheikh Mansour Bin Zayed Al Nahyan appointed as UAE VP

UAE President Sheikh Mohamed bin Zayed Al Nahyan has appointed Sheikh Mansour Bin Zayed Al Nahyan as the country’s vice president and Minister of Presidential Court, Emirates News Agency (WAM) reported on Wednesday.

Sheikh Mansour was appointed alongside current VP Mohammed Bin Rashid Al Maktoum, who is also the Prime Minister and Ruler of Dubai, according to WAM.

World

Top US general warns of high ammo use in event of major war

America’s top military officer warned Wednesday that war between the United States and another major power would see “off the charts” munitions consumption and said there is work to be done to ensure the country is prepared.

Ukraine and Russia have fired huge amounts of artillery ammunition since Moscow invaded its neighbor in February 2022, sparking concerns about the amount the United States — which has supplied large amounts of shells to Kyiv — has on hand.

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A “big lesson learned comes out of Ukraine, which is the incredible consumption rates of conventional munitions in what really is a limited regional war,” General Mark Milley, the chairman of the Joint Chiefs of Staff, told the House Armed Services Committee.

“If there was a war on the Korean peninsula or a great power war between United States and Russia, United States and China, those consumption rates would be off the charts,” he said.

“We’ve got a ways to go to make sure our… stockpiles are prepared for the real contingencies.”

Milley’s remarks came a day after Undersecretary of the Army Gabe Camarillo said the United States aims to greatly expand the production of artillery shells.

“We’re… investing in production capacity — $1.45 billion to expand the 155 mm artillery production from 14,000 a month to over 24,000 later this year, which includes a sixfold increase in production capacity by FY28 to over 85,000 units per month,” he said at an Association of the United States Army symposium.

The country is also seeking to increase production of Javelin launchers and missiles as well as ammunition for HIMARS precision rocket launchers — equipment that has played a key role in Ukraine’s fight against Russian troops, Camarillo said.