China delivers first batch of emergency rice aid to Cuba

The handover ceremony for the first batch of rice under China's emergency food assistance program to Cuba was held on Monday at a grain transit warehouse of Cuba's Ministry of Domestic Trade.

Attending the event were Cuban Vice Prime Minister and Minister of Foreign Trade and Foreign Investment, Oscar Perez-Oliva Fraga; Minister of Domestic Trade Betsy Díaz Velázquez, Deputy Minister of Foreign Trade and Foreign Investment, Déborah Rivas Saavedra; and Chinese Ambassador to Cuba Hua Xin, among others.

At the ceremony, Perez-Oliva said that the donated supplies fully reflect China's valuable assistance to Cuba and the deep friendship between the two countries.

In addition to food aid, the two sides have engaged in extensive cooperation in areas such as energy, achieving rapid and effective progress, he said.

Cuba sincerely thanks the Chinese government for its support under the current challenging circumstances, and it is a concrete practice of jointly building a China-Cuba community with a shared future, the Cuban senior official said.

Hua Xin said the assistance not only embodies the profound special friendship between China and Cuba, but also demonstrates the firm conviction of the two sides to stand together through storms and challenges.

"Today, we witnessed the official delivery of the first batch of the emergency food aid assisted by the Chinese government. We believe that through joint efforts, no blockade can extinguish the light of hope, and no difficulty can hinder our progress. China is willing to continue strengthening cooperation with Cuba, overcoming difficulties together, and injecting greater momentum into building a China-Cuba community with a shared future," the Chinese ambassador said.

The total volume of rice assistance under this program amounts to 30,000 tonnes. The second batch has already arrived smoothly at the port of Santiago de Cuba, and subsequent batches are set to be shipped soon.

China delivers first batch of emergency rice aid to Cuba

China delivers first batch of emergency rice aid to Cuba

The International Energy Agency (IEA) said on Wednesday that oil reserves in members of the Organisation for Economic Co-operation and Development (OECD) had fallen by a cumulative 163 million barrels since the outbreak of the Middle East conflict, reaching their lowest level since December 1990.

According to the IEA's latest Monthly Oil Report, global observed oil stocks have fallen by an average of 3.8 million barrels per day (mb/d) since the start of the Middle East conflict, including a draw of 143 million barrels in May, mainly due to accelerated releases of emergency stocks.

The report said the memorandum of understanding due to be signed by the United States and Iran this week was an important step toward easing regional tensions and could pave the way for reopening the Strait of Hormuz and lifting the U.S. blockade on Iranian oil traffic.

The IEA forecast global oil supply to fall by an average of 3.9 mb/d in 2026 to 102.4 mb/d, before rising by 8 mb/d in 2027 to 110.3 mb/d. However, unresolved issues, including mine clearance in the Strait of Hormuz and transit arrangements, mean operational and political risks could still weigh on the pace of supply recovery.

The agency said a significant supply overhang could emerge next year. Global oil demand is projected to rise by a relatively modest 2 mb/d to 105.3 mb/d, while supply is expected to increase by about 8 mb/d to 110.3 mb/d.

The surplus could ease market pressures and allow countries to replenish depleted inventories or build strategic reserves as they reassess energy policies in response to the crisis, the IEA said.

IEA says OECD oil stocks fall to lowest since 1990