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Chinese Covid-19 statistics intentionally incomplete, US intelligence says

Thu, 02nd Apr 2020 00:18

(Sharecast News) - US intelligence has concluded that China did not reveal the true extent of the Covid-19 coronavirus pandemic in the country on purpose.

That was the main thrust of a secret US intelligence assessment prepared for the White House, although the full contents were not revealed, Bloomberg reported citing three officials.

Two officials said the conclusion reached was that the Chinese data was fake.

At last count, Beijing had publicly reported approximately 82,000 cases and 3,300 deaths related to the outbreak, against 189,000 cases and over 4,000 fatalities thus far in the US.

Other countries' reporting, including that of Iran, Indonesia, North Korea and Russia was also suspect.

Pyongyang had thus far reported zero cases.

In remarks to CNN, US vice-president, Michael Pence, said: "The reality is that we could have been better off if China had been more forthcoming.

"What appears evident now is that long before the world learned in December that China was dealing with this, and maybe as much as a month earlier than that, that the outbreak was real in China."

The day before, US Secretary of State, Michael Pompeo, called on China and others to be "transparent".

Developing medical therapies and designing public health measures to fight Covid-19 "so that we can save lives depends on the ability to have confidence and information about what has actually transpired."

"I would urge every nation: Do your best to collect the data. Do your best to share that information," he said. "We're doing that."
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19 Jul 2021 11:57

Morgan Stanley stays 'overweight' on Shell, expects dividend to grow again

(Sharecast News) - Analysts at Morgan Stanley reiterated their 'overweight' stance on shares of Royal Dutch Shell in anticipation of share buyback announcements and higher dividend payouts from the oil major.

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19 Jul 2021 10:32

Crude oil futures under pressure after OPEC+ deal at the weekend

(Sharecast News) - Crude oil futures slid at the start of the week after the Organisation of Petroleum Exporting Countries ad its main allies clinched a deal at the weekend to increase their combined output.

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6 Jul 2021 13:22

Saudi, UAE spat unlikely to result in breakdown of OPEC+ discipline, Morgan Stanley says

(Sharecast News) - OPEC+'s failure to reach an agreement on raising production two days before is unlikely to herald the start of a price war between its members, analysts at Morgan Stanley said - but there were medium-term risks.

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22 Jun 2021 15:36

JP Morgan names Shell 'top pick' in EU oil, expects 'stellar' cash flows

(Sharecast News) - Analysts at JP Morgan named Royal Dutch Shell their 'top pick' in the European Union Oil space, in anticipation of "standout" free cash flow generation on the back of stronger macro conditions and catch-up in lagged pricing for liquid natural gas.

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1 Jun 2021 10:30

Brent futures hit two-year high ahead of OPEC+ meeting

(Sharecast News) - Oil prices hit a roughly two-year high on expectations that the reopening of advanced economies would run down the inventories that had piled up during the pandemic.

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20 May 2021 14:25

Iran's Rouhani says US will lift sanctions

(Sharecast News) - Iran's president said on Thursday that the United States was ready to lift sanctions on his country's oil, banking and shipping sectors that were reimposed after the Trump administration withdrew from the nuclear deal signed in 2015.

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29 Apr 2021 06:54

London pre-open: Futures up after Fed stays 'on message', on US Tech earnings

(Sharecast News) - Trading in London shares is set to start on the front foot after the US central bank signaled overnight that it was simply not yet time to be talking about tapering bond purchases and much less about interest rate hikes.

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28 Apr 2021 12:37

Thursday preview: Apple, Royal Dutch Shell in focus

(Sharecast News) - The market focus on Thursday will shift back to the latest earnings updates from US technology giants with Apple and Facebook both due to report after the close of trading on Wednesday.

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10 Mar 2021 11:00

'Super cautious OPEC stance on output increases could backfire, Citi says

(Sharecast News) - The "super cautious" approach adopted by Saudi when it comes to adding to global crude oil supplies might backfire on the Organisation of Petroleum Exporting Countries and its allies, Citi argued.

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8 Mar 2021 07:31

Brent futures spring higher after attack on key Saudi oil facility

(Sharecast News) - Crude oil futures sprang higher at the start of the week following an attack on Saudi Arabia's largest crude terminal at Ras Tanura.

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4 Mar 2021 16:41

Sector movers: Oil and Gas leads gains as OPEC+ springs surprise on traders

(Sharecast News) - Oil and Gas shares jumped to the top of the leader board after many of the world's major crude producers surprised traders with a decision to hold their combined output unchanged following talks on Thursday.

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19 Feb 2021 11:58

S&P downgrades Shell's long-term debt on risks from energy transition

(Sharecast News) - One of the world's top credit rating agencies downgraded Royal Dutch Shell's long-term debt on the back of the expected challenges from the transition to sustainable technologies.

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15 Feb 2021 15:06

Sector movers: Oil and Mining stocks surge on US stimulus and vaccine hopes

(Sharecast News) - Oil and Mining stocks surged at the start of the week on hopes for further fiscal stimulus in the US and that the pandemic might start to be coming under control.

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15 Feb 2021 11:53

Brent at 13-month high on hopes for US stimulus and vaccine rollouts

(Sharecast News) - Investors continued to bid crude oil prices higher at the start of the week, on the back of continued hopes for an easing of Covid-19 lockdowns around the world and of fiscal stimulus in the US.

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11 Feb 2021 12:00

Citi revises 2021 oil price forecasts higher

(Sharecast News) - Analysts at Citi revised their projections for the price of oil, citing oil producers' success in running down global inventories and improved prospects for demand.

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