Overnight oil news with a report that Russia’s Energy Minister Alexander Novak met with domestic major oil companies on Tuesday
- Discussions centred on implementing oil production curbs
- possible extension of the current level of cuts beyond June
- Russian President Putin has ordered bail out measures for Russia’s oil industry
Tensions are rising (further) on the India-China border, this posted earlier:
- Indian media reports over 5,000 Chinese soldiers have intruded at five points into India
Comments regarding the US’ Holding Foreign Companies Act from the China Securities Regulatory Commission (CSRC) weekend statement
- the US bill that aims to delist Chinese companies from the US stock exchange is “directly targeting China”
- is grounded in political rather than professional motives
- would force Chinese companies to adhere to US securities law and could potentially delist Chinese companies if passed, while some of its content explicitly targets China.
- coronavirus origin and spread
- tension over new rules from Beijing to be imposed on Hong Kong
A US media report that the Trump administration has discussed conducting a US nuclear test.
- The matter came up at a meeting of senior officials representing the top national security agencies May 15, following accusations from administration officials that Russia and China are conducting low-yield nuclear tests – an assertion that has not been substantiated by publicly available evidence and that both countries have denied.
- US has not decided to conduct a test, but a senior administration official said the proposal is “very much an ongoing conversation”
Says that the US is very powerful, & unfriendly to China and therefore calls on China to expand its number of nuclear warheads & enhance nuclear deterrence
Here’s a little snippet:
- Beijing has banned the flying of all aerial vehicles and balloons for entertainment, advertisement or other purposes within its administrative area from May 20-28.
- annual meeting of China’s top lawmakers and political advisers
- nicknamed the “Two Sessions”
- The Two Sessions include the plenary sessions of the National People’s Congress (NPC), the country’s top legislature, and the Chinese People’s Political Consultative Conference (CPPCC), a body that advises the government on a range of issues.
Pompeo speaking on Fox, dialling back his rhetoric a little.
- reiterates he has seen evidence the virus came for a lab in China
Will know over the next a few weeks
- China may or may not keep the trade deal
- He will be able to report on whether China is fulfilling its obligations under the phase 1 trade deal in about a week or 2
- Fauci and Birx will continue to hold same roles on coronavirus task force
- fast food chain Wendy’s is going to be okay with regard to beef supply.
Yonhap reports on the matter
At this point, it is pretty much believe what you will. Kim mysteriously disappeared for three weeks – with reports surfacing initially that he had a botched heart surgery – before reappearing on Saturday as local media released some images of him: