Showbiz glitz and glamour are back at 38th Star Awards for Movies

BY MANILA BULLETIN ENTERTAINMENT

Jul 18, 2023 07:05 AM

  

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AT A GLANCE

• The country's Filipiniana also proves to be fashionable, fun and creative. Award hosts Claudine Barretto, Sunshine Cruz, Christian Bautista, and QC Councilor Alfred Vargas came in their snappy best. In her black sophisticated Marc Bumgarner terno, Cruz won The Face of the Night while, Baretto, in her shimmering white princess modern terno was named Female Star of the Night. Christian Bautista in his modern barong ensemble was chosen Male Star of the Night while Coun. Vargas was hailed Darling of the Press.

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FROM LEFT: Alfred Vargas, Claudine Barretto, Sunshine Cruz and Christian Bautista (Images by Allan Sancon)

Held at the iconic Manila Hotel, the glitz and sophisticated night of the 38th Star Awards for Movies signals glamour and exciting days ahead for the Philippine entertainment industry.

The country's Filipiniana also proves to be fashionable, fun and creative. Award hosts Claudine Barretto, Sunshine Cruz, Christian Bautista, and QC Councilor Alfred Vargas came in their snappy best. In her black sophisticated Marc Bumgarner terno, Cruz won The Face of the Night while, Baretto, in her shimmering white princess modern terno was named Female Star of the Night. Christian Bautista in his modern barong ensemble was chosen Male Star of the Night while Coun. Vargas was hailed Darling of the Press.

With almost all nominees and awards night attendees garbed in Filipiniana and modern barong, the much awaited 38th edition is one Philippine Movie Press Club, Inc (PMPC) event worth remembering. Thanks to MJ Gutierez of Gutierez Celebrities and Media Productions for mounting such a memorable experience at the country's oldest and most revered hotel, The Manila Hotel.

The Company, Daryl Ong, Marlo Mortel, and Concert King Martin Nievera belted out their best to lighten up the night.

Helen Gamboa

Showbiz veterans and industry icons Ms. Helen Gamboa and Director Chito Roño honored the event with their presence to personally receive the Lifetime Achievement Awards accorded to them. Gamboa, with the current MTRCB Chairperson Lala Sotto in tow, received the Nora Aunor Ulirang Artista Lifetime Achievement Award. Direc Roño, accompanied by Streetboys members namely, Jhong Hilario, Vhong Navarro, Meynard Marcellano, Joey Andres, Christopher Cruz, Danilo Barrios, and Nicko Manalo, got for himself the Ulirang Alagad ng Pelikula sa Likod ng Kamera Lifetime Achievement Award. Roño founded the dance group in 1993 and he was totally surprised with the presence of its members as he accepted his first lifetime achievement award ever.

Chito Rono

Despite the global pandemic hitting worldwide and badly affecting across all industries, the PMPC made sure to honor the country's best of the best movies, performers, and stakeholders for the year 2021.

Watch the 38th Star Awards for Movies at ALLTV Network on July 23, 2023, Sunday, at 9pm.Directed by Frank Mamaril.

The Philippine Movie Press Club (PMPC)

Here are the winners:

MOVIE OF THE YEAR - “On The Job 2: The Missing 8” (Reality MM Studios, Globe Studios, HBO Asia Originals)

MOVIE DIRECTOR OF THE YEAR - Erik Matti (On The Job 2: The Missing 8)

Vince Tanada

INDIE MOVIE OF THE YEAR - “Katips” (PhilStagers Films)

INDIE MOVIE DIRECTOR OF THE YEAR - Vince Tañada (Katips)

Janice de Belen (left) and Lotlot de Leon

MOVIE ACTRESS OF THE YEAR - Charo Santos-Concio (Kun Maupay Man It Panahon) at Sunshine Dizon (Versus)

MOVIE ACTOR OF THE YEAR - Vince Tañada (Katips)

Sunshine Dizon

MOVIE SUPPORTING ACTRESS OF THE YEAR - Janice De Belen (Big Night!) at Lotlot De Leon (On The Job 2: The Missing 8)

MOVIE SUPPORTING ACTOR OF THE YEAR - Johnrey Rivas (Katips)

MOVIE ENSEMBLE ACTING OF THE YEAR - The cast of “On The Job 2: The Missing 8”

INDIE MOVIE ENSEMBLE ACTING OF THE YEAR - The cast of “Katips”

NEW MOVIE ACTRESS OF THE YEAR - Quinn Carrillo (Silab)

Quinn Carillo

NEW MOVIE ACTOR OF THE YEAR - Sean De Guzman (Anak Ng Macho Dancer)

CHILD PERFORMER OF THE YEAR - Ella Ilano (The Housemaid)

Sean de Guzman

SHORT MOVIE OF THE YEAR - “Black Rainbow” (Sinehalaga, NCCA, Negros Cultural Foundation, Uncle Scott Global Productions)

SHORT MOVIE DIRECTOR OF THE YEAR - Zig Dulay (Black Rainbow)

TECHNICAL CATEGORIES
(Mainstream and Indie Films)

MOVIE SCREENWRITER OF THE YEAR - Michiko Yamamoto (On The Job 2: The Missing 8 )

MOVIE CINEMATOGRAPHER OF THE YEAR - Teck Siang Lim (Kun Maupay Man It Panahon)

MOVIE EDITOR OF THE YEAR - Benjamin Tolentino (Big Night!)

MOVIE PRODUCTION DESIGNER OF THE YEAR - Whammy Alcazaren (Kun Maupay Man It Panahon)

MOVIE MUSICAL SCORER OF THE YEAR - The Storyteller Project (My Amanda)

MOVIE SOUND ENGINEER OF THE YEAR - Corinne De San Jose (On The Job 2: The Missing 8 )

MOVIE ORIGINAL THEME SONG OF THE YEAR -- "Umulan Man O Umaraw", performed by Rita Daniela, composed by Louie Ignacio, arranged by Bobby Velasco (for the movie "Huling Ulan Sa Tag-Araw")

INDIE MOVIE SCREENWRITER OF THE YEAR - Lav Diaz (Historia Ni Ha)

INDIE MOVIE CINEMATOGRAPHER OF THE YEAR - Lav Diaz (Historia Ni Ha)

INDIE MOVIE EDITOR OF THE YEAR - Armando Lao, Peter Arian Vito, Ysabelle Denoga (Gensan Punch)

Alfred Vargas

INDIE MOVIE PRODUCTION DESIGNER OF THE YEAR - Lav Diaz (Historia Ni Ha)

INDIE MOVIE MUSICAL SCORER OF THE YEAR - Pipo Cifra (Katips)

INDIE MOVIE SOUND ENGINEER OF THE YEAR - Albert Michael Idioma (Gensan Punch)

Christian Bautista (center)

INDIE MOVIE ORIGINAL THEME SONG OF THE YEAR - “Sa Susunod Na Ikot Ng Mundo” -- performed by Kris Lawrence, with saxophone solo by Nicole Reluya, composed and arranged by Von De Guzman (“Nelia”)

SPECIAL AWARDS:

Nora Aunor Ulirang Artista Lifetime Achievement Award -- Ms. HELEN GAMBOA

Claudine Barretto (left) and Sunshine Cruz

Ulirang Alagad Ng Pelikula Sa Likod Ng Kamera Lifetime Achievement Award -- Director CHITO ROÑO

DARLING OF THE PRESS - Alfred Vargas

MOVIE LOVETEAM OF THE YEAR - Donny Pangilinan and Belle Mariano (Love Is Color Blind)

Martin Nievera

FEMALE STAR OF THE NIGHT - Claudine Barretto

MALE STAR OF THE NIGHT - Christian Bautista

FEMALE CELEBRITY OF THE NIGHT - Quinn Carrillo

MALE CELEBRITY OF THE NIGHT - Sean De Guzman

FACE OF THE NIGHT - Sunshine Cruz

New LPA likely to become tropical cyclone within 1 to 2 days — PAGASA

Record heat waves hit US, Europe, Asia

DRY COUNTRY Picture taken on Thursday, July 13, 2023, shows a field of pistachio trees growing in a very dry field in Daimiel, in the Castilla La Mancha region. With high temperatures, a lack of rain and being hit by several heat waves, Spain suffers from a severe drought, also due to the high water needs of agriculture. AFP PHOTO

By Agence France-Presse

July 17, 2023 

(UPDATE) ROME: Tens of millions of people battled dangerously high temperatures around the world on Sunday as record heat forecasts hung over parts of the United States, Europe and Asia, in the latest example of the threat from global warming.

A powerful heat wave stretching from California to Texas was expected to peak, the US National Weather Service said, warning of an "extremely hot and dangerous weekend." Daytime highs were forecast to range between 10 and 20 degrees Fahrenheit above normal in the west.

Arizona's state capital Phoenix recorded 16 straight days above 109 F (43 degrees Celsius), with residents facing temperatures of 111 F on Saturday, en route to an expected 115 F.

California's Death Valley, one of the hottest places on Earth, was also likely to register new peaks on Sunday, with the mercury possibly rising to 130 F (54 C).

Authorities have been sounding the alarm, advising people to avoid outdoor activities in the daytime and to be wary of dehydration.

At a construction site outside Houston, Texas, a 28-year-old worker who gave his name only as Juan helped complete a wall in the blazing heat.

"Just when I take a drink of water, I get dizzy, I want to vomit because of the heat," he told Agence France-Presse.

The Las Vegas weather service warned that assuming high temperatures naturally come with the area's desert climate was "a DANGEROUS mindset! This heat wave is NOT typical desert heat." Southern California is fighting numerous wildfires, including one in Riverside County that has burned more than 7,500 acres (3,000 hectares) and prompted evacuation orders.

Further north, the Canadian government reported that wildfires had burned a record-breaking 10 million hectares this year, with more damage expected as the summer drags on.

Historic highs forecast In Europe, Italy faced weekend predictions of historic highs with the health ministry issuing a red alert for 16 cities including Rome, Bologna and Florence.

The weather center warned Italians to prepare for "the most intense heat wave of the summer and also one of the most intense of all time." The thermometer is likely to hit 40 C in Rome by Monday and 43 C on Tuesday, smashing the record of 40.5 C set in August 2007.

The islands of Sicily and Sardinia could wilt under temperatures as high as 48 C, the European Space Agency warned — "potentially the hottest temperatures ever recorded in Europe." The Acropolis in Athens, one of Greece's top tourist attractions, will close during the hottest hours on Sunday, for the third day running.

In France, high temperatures and resulting drought are posing a threat to the farming industry, earning Agriculture Minister Marc Fesneau criticism from climatologists for having brushed aside conditions as "normal enough for summer." This June was the second-hottest on record in France, according to the national weather agency, and several areas of the country have been under a heat wave alert since Tuesday.

There is little reprieve ahead for Spain, whose meteorological agency warned that a new heatwave Monday through Wednesday will bring temperatures above 40 C to the Canary Islands and the southern Andalusia region.

Killer rains

As torrential rains lashed northern Japan on Sunday, a man was found dead in a flooded car, a week after seven people were killed in similar weather in the country's southwest.

Parts of eastern Japan are expected to reach 38-39 C on Sunday and Monday, with the meteorological agency warning temperatures could hit previous records.

In South Korea, rescuers on Sunday battled to reach people trapped in a flooded tunnel, after heavy rains for the last four days triggered floods and landslides that killed at least 33 people and left 10 missing.

The country is at the peak of its summer monsoon season, with more rain forecast through Wednesday.

In northern India, relentless monsoon rains have reportedly killed at least 90 people, following burning heat.

Major flooding and landslides are common during India's monsoons, but experts say climate change is increasing their frequency and severity.

China on Sunday issued several temperature alerts, warning thermometers could reach 40-45 C in the partly desert region of Xinjiang, and 39 C in southern Guangxi region.

Morocco was slated for above-average temperatures this weekend with highs of 47 C in some provinces — more typical of August than July — sparking concerns for water shortages, the meteorological service said.

River Tigris shrinking In Iraq, where scorching summers are common, 37-year-old Wissam Abed usually cools off from Baghdad's brutal summer by swimming in the Tigris river.

But as rivers dry up, so does the age-old pastime.

With temperatures near 50 C and wind whipping through the city like a hairdryer, Abed stood in the middle of the river, but the water only comes up to his waist.

"Year after year, the water situation gets worse," he told AFP.

While it can be difficult to attribute a particular weather event to climate change, scientists insist that global warming — linked to dependence on fossil fuels — is behind the multiplication and intensification of heat waves.

The EU's climate monitoring service said the world saw its hottest June on record last month.

Are you feeling the love? Love the Philippines. Why not?

BY VINCE SOCCO

Jul 17, 2023 09:22 AM

  

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I think that the newly minted slogan of the Department of Tourism (DOT) to promote the Philippines is a good one. But, of course, there will be 110 million opinions about it by as many Filipinos in our beautiful country. There isn’t really much to dislike about the slogan. It’s short, easy to recall, offers wide applications, it has a high emotional appeal and it captures the Filipino spirit of being a fun and loving people. But that’s just me. I suppose that the DOT and its partner agency did a lot more research and testing on the slogan before finalizing its choice.

But what’s in a slogan? Other countries in the region have adopted their own tourism campaign lines that, over time, have stuck - Amazing Thailand; Incredible India; Malaysia Truly Asia; Wonderful Indonesia; Singapore: Passion Made Possible; and Vietnam Timeless Charm. Our own “It’s more fun in the Philippines” held its own and I am reasonably hopeful that “Love the Philippines” will make its own mark.

Ultimately, a slogan is only one of several items in any country’s tool kit to increase the flow of foreign tourists to its shores. I think it would be entirely unfair to rest the success of tourism on a campaign line. Yes, it contributes to entice visitors but that is only part of the whole dynamic. But, for the sake of comparison, let’s look at how the numbers fall using campaign slogans as a baseline.

From 2002-2010, the Philippine slogan was “WOW Philippines”. The number of visitor arrivals to the country increased from 1.9 million in 2002 to 3.0 million in 2009. This was followed by “Pilipinas kay Ganda” from 2010-2012 which showed the tourist count rise to 3.5 million in 2010 up to 4.3 million in 2012. Then came “It’s more fun in the Philippines” from 2012 thru the first half of this year. Visitor arrivals grew to 8.2 million just before COVID slammed the brakes on tourism.

If my math does not fail me, the average annual growth rates were 7.9%, 7.1% and  9.6% for “WOW Philippines”, “Pilipinas kay Ganda” and “It’s more fun in the Philippines”, respectively. Simplistically, it would be tempting to say that it was the last slogan that had the most impact. Perhaps, it was a big contributor. Nonetheless, we cannot discount other factors like the general social and economic environment, geopolitical events and local peace and order conditions. It will be recalled, for example, that the period of 2012-2019 was a period of robust economic growth and political stability for our country. This was almost certainly a driver of increased tourist arrivals.

Post COVID, tourism is yet to get its mojo back. 2023 has so far been very encouraging for tourism in the Philippines. For the first six months, a total of 2.7 million visitor arrivals have been reported by the DOT. This is already more than the reported number of tourists for the whole of 2022.

However, if we take the helicopter view, our prospects for increased visitor arrivals to the Philippines still has a long way to go. Our ASEAN neighbors are, in fact, far ahead of us in tourist count – regardless the slogan. One report compares our peak count of 8.2 million visitors in 2019 to 39.9 million in Thailand, 19.1 million in Singapore, 18 million in Vietnam and 16.1 million in Indonesia. The struggle to return tourist arrivals to pre-COVID levels continues. Thailand is at around 45% recovery while Singapore and Indonesia are around 30%+, the Philippines at about 25% and Vietnam at 20%. With the practically full cessation of COVID travel restrictions, we hope that the “revenge travel” phenomenon starts to spike sooner than later.

While the buzz has been focused so much on the slogan, I think we ought to take this opportunity to shore up the challenges that get in the way of raising the desirability of the Philippines as a tourist destination. It is not for any shortage of sights or attractions, to be sure. It is more about providing a more seamless and convenient way around to, well, make tourists fall in love with the Philippines. Many pundits have pointed out the need to improve our airports, connectivity across the nation, safeguarding of tourist interests while in-country and a more secure experience altogether. Surely, there are those that prefer the more laid-back experience but the basics remain the same. The opportunities from a more robust tourism sector are definitely worth paying attention to.

Let’s give “Love the Philippines” a chance to showcase the many charms of our country – not only to increase visitor arrivals but also to raise domestic tourism among Filipinos. We have 7,641 islands to explore and, yes, to love.

Are you a thrillseeker?

 An inquiry into the phenomenon that motivates certain people to seek out danger.

BY MANILA BULLETIN

Jul 16, 2023 10:25 PM

  

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AT A GLANCE

• Where there is little risk, there is little reward. —Evel Knievel

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PERILOUS JOURNEY Whitewater rafters struggle to remain afloat a raging river

By JAMES SAM

Excitement is ephemeral. A rush of adrenaline begins in spontaneity and ends in the blink of an eye. This feeling, typically a byproduct of certain activities, is something many humans risk their lives for, a byproduct of activities such as skydiving, snowboarding, drag racing, whitewater rafting, bungee jumping, rock climbing. In the face of danger, pain, and death a glimmer shines in the eye of a particular type of person. A fire is lit in his heart with his body compelled to move according to instinct rather than rationality.

Why do we chase the thrill?

Coined by Walter Bradford Cannon, the flight-or-flight mechanism paints a binary picture of our responses to threatening circumstances. The feeling of fear that swells up within us has the power to dictate our reaction to external stimuli. It is one of our more powerful emotions, evolutionarily adapted and cemented into every interaction we share with the world.

When a person overlooks the canyon at Danao Adventure Park littered with sharp stones and tall trees, fear makes its presence known. A 200-meter-tall cliff and its closest neighbors are the canopies underneath. Facing a 50-meter free fall from the top of the cliff, thrillseekers forfeit control over their body at the adventure park’s canyon swing.  Equipped with protective gear and a large elastic cord, the threat of death looms large. Reason will tell tales of accidents, faulty equipment leading to a detached cord mid-fall, or the overextension of one’s spine due to recoil leading to paralysis. Yet, they jump.

50-METER FALL The canyon swing at Danao Adventure Park from atop a 200-meter-tall point

In Cagayan de Oro, thrillseekers willingly struggle to stay afloat on rough, rapid rivers. They board inflatable rafts and subject themselves to strong currents contested only by large boulders and sharp rocks. Control over their raft is limited to slight turns and adjustments. In search of a rush of adrenaline, whitewater rafters place themselves into a life-threatening situation.

Within the river, there are plenty of obstacles people can get pressed up against and, unable to free themselves from the oncoming current, they drown. Because of the minimal freedom of movement aboard a raft carried by the river, people can be sent hurling toward boulders, causing bruises, broken bones, even death. Yet whitewater rafters go for it with grins from ear to ear.

The bid for a thrill evidently does not arise from reason. To consider activities such as bungee jumping and whitewater rafting is to recognize risks and dangers, but there’s something powerful enough to embolden one to jump, to fall, to fly.

Like the fabled romance in Romeo and Juliet, the pursuit of the thrill is a phenomenon that defies reason. Romeo and Juliet, caught between feuding families engaged in violence and bloodshed, prioritize their love for each other over the blatant dangers of their entanglement. Within these two star-crossed lovers is a passion that overrules the consideration of their situation. Amid brawls leading to deaths and outlawing from both of their families, the story follows their attempt to navigate these turmoils in order to fulfill their desire for romance. A similar passion is found within those who seek a thrill.

Fear being one of our more powerful emotions, overcoming it offers a rewarding experience. To triumph over the fear of risk and danger is an accomplishment that demands intense concentration and willpower. Picture yourself on the edge of a helicopter 3,500 meters above the ground. Your goal is to take a leap of faith, with your faith placed in the parachute that will be thrown out in your wake as you fall.

Fear should be at the forefront of your experience. To overcome this overwhelming feeling is an extreme process and it results in that which enthusiasts find themselves chasing to the furthest ends of the world—the thrill.

National team resets two PH records in Asian Athletics Champs

 BY KRISTEL SATUMBAGA-VILLAR

Jul 16, 2023 12:13 PM

  

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AT A GLANCE

• The Philippine team reset national records in women’s heptathlon and 4x400-meter mixed relay on Saturday, July 16, in the 2023 Asian Athletics Championships in Bangkok, Thailand.

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The Philippine team reset national records in women’s heptathlon and 4x400-meter mixed relay on Saturday, July 16, in the 2023 Asian Athletics Championships in Bangkok, Thailand.

Sarah Dequinan posted a new national record in women's heptathlon. (Sarah Dequinan's Facebook page)

Sarah Dequinan smashed her own mark in women’s heptathlon despite finishing fifth, amassing 5446 points to eclipse her previous record 5381 points she made in the 31stSEAG in Hanoi, Vietnam last year.

The 4x400m mixed relay of Frederick Ramirez, Jessel Lumapas, Michael Del Prado and Maureen Schrijvers also broke the PH record by timing 3 minutes and 22.53 seconds.

Though finishing sixth in the race, the crew managed to smash the old mark of 3:23.69 set by Ramirez, Del Prado, Joyme Sequita and Umajesty Williams at the Cambodia SEAG last May.

Other Filipino athletes, however, were unfortunate.

Six-time SEAG champion Eric Cray came in sixth in the men’s 400m hurdles with a time of 49.76sec.

Though it was faster than his heat time of 50.39sec and semifinal time of 49.98sec, it was still not enough to land him a medal as Qatar’s Bassem Mohamed A Hemeida claimed the gold in 48.64sec, and Japan’s Yusaku Kodama (48.96sec) and India’s Santhosh Kumar Tamilarasan (49.09sec) bagged silver and bronze, respectively.

Janry Ubas also fell short in the men’s long jump, finishing seventh behind Chinese Taipei’s Yu Tang Lin (8.40m) despite mustering all his might in his sixth and final attempt with a 7.98m leap.

Bernalyn Bejoy also failed to advance in the women’s 800m semifinal after finishing sixth in her heat with 2:10.22.

Marcos skips 36th Cordillera Day due to bad weather

 

BY ARGYLL CYRUS GEDUCOS

Jul 15, 2023 09:18 AM

  

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AT A GLANCE

• Garafil said the decision was made upon the advice of the Presidential Security Group (PSG).

• The program, however, will push through.

• The entire CAR was placed under Signal No. 1 on July 14.

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The rains brought by Tropical Depression "Dodong" prompted President Ferdinand "Bongbong" Marcos Jr. to call off his attendance at the 36th Cordillera Day celebration in Luna, Apayao, Malacañang reported.

Photo from DOST-PAGASA (Facebook)

In a statement, Communications Secretary Cheloy Garafil said the decision was made upon the advice of the Presidential Security Group (PSG).

"Due to inclement weather, the PSG has advised to cancel the President's visit to Apayao today (July 15, 2023)," Garafil said in a text message to Palace reporters.

The program, however, will push through.

The Cordillera Administrative Region (CAR) comprises six provinces: Abra, Apayao, Benguet, Ifugao, Kalinga, and the Mountain Province.

In a press briefing on Friday, July 14, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) reported that all provinces under CAR were under Signal No. 1.

In an advisory early Saturday, PAGASA said the center of Tropical Depression Dodong was estimated at 260 kilometers west of Sinait, Ilocos Sur, with maximum sustained winds of 55 km/h near the center and gustiness of up to 70 km/h.

Dodong was said to be moving westward at 20 km/h, while the southwest monsoon would continue to bring rains to Central and Southern Luzon, Visayas, and Mindanao.

PAGASA advised people living near the mountain slopes and in the low-lying areas of the rivers of the CAR to be "alert for possible flashfloods and landslides."

Big-time hike in oil prices due next week

BY MYRNA M. VELASCO

Jul 15, 2023 09:25 AM

  

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Big-time oil price hike across products await motorists next week, based on advisories by oil companies.

Based on the calculation of the industry players, the price of gasoline will rise by as much as P1.90 to P2.30 per liter; while diesel prices will also climb by P1.95 to P2.35 per liter.

For kerosene, which is an indispensable commodity for many households especially in the rural areas as well as key industries like aviation, its price will increase by P1.70 to P2.00 per liter.

Oil firms will implement the price adjustments on Tuesday, July 18, based on the Mean of Platts Singapore (MOPS), a price index for traded fuel commodities in the region.

The big jump in prices next week is partly traced to the fresh round of rally in the spot prices of fuel commodities on a global scale, with international benchmark Brent crude breaking above $81 per barrel as of Friday, July 14, trading.

According to global experts, the uptick in prices had been mainly traced to the production cuts of Saudi Arabia extending into August; as well as the export curtailments being enforced by Russia.

Market watchers indicated that "backwardation" appeared to have been the prevailing sentiment in the market last week, entailing that spot prices had been higher than the prices of fuel commodities traded in the futures market.

While there was reported buildup in the inventory of the United States, industry experts noted that such development had been largely unnoticed in last week’s commodities’ trading.

This early, the Organization of the Petroleum Exporting Countries (OPEC) already laid down forecasts that demand growth next year will likely top 2.25 million barrels per day, triggering additional pressure on global oil prices.

Compounding the geopolitical factors had been production stoppage in one of the oil fields of Libya, one of the member-producers of OPEC, and that was due to a kidnapping incident involving a former government official.