China vows more policy support for COVID-ravaged economy
China will step up policy support for the economy, the country's major economic policymakers said on Monday, stressing that the third quarter is crucial for rolling out policy measures as evidence points to a further loss of economic momentum. The comments suggested urgency among policymakers to stave off an economic downturn made worse by fresh COVID flare-ups and an embattled property sector.China will accelerate infrastructure investment and attract social capital into key projects, said Yang Yinkai, Deputy Secretary General of the National Development and Reform Commission, at a press conference in Beijing. Yang ... (full story)
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tweet at 7:58am: *OPEC+ JMMC SUPPORTS 100K B/D OIL-OUTPUT CUT FOR OCT: DELEGATEOil Surges After OPEC+ Said To Agree On 100Kb/d Production Cut And there it is: the half life of the infamous fist bump proved to be less than two months, with a delegate telling Reuters that OPEC+ supports a 100kb/d reduction in oil output for October, meaning it's a done deal. • *OPEC+ JMMC SUPPORTS 100K B/D OIL-OUTPUT CUT FOR OCT: DELEGATE. The much-anticipated OPEC+ meeting later on Monday has all options on the table for oil, Bloomberg's Nour Al Ali writes, adding that whatever the decision is on production in October, the alliance has the upper hand, which is bullish for the oil futures market. A delegate has told Bloomberg that OPEC+ will discuss a range of oil-policy options at Monday’s meeting including a 100k b/d output cut - reversing last month's just as symbolic output hike following Biden's begging for more oil. Other options include maintaining production at current levels as well as an output cut before the next month's meeting.
Both the economy and the currency of Great Britain are under threat of further energy leakage. Being at the end of the line, of any energy trickle from Russia across the ...
tweet at 8:17am: #OOTT | #OPEC Delegate: OPEC+ Agrees To Cut Output By 100k Bpd In October32nd OPEC and non-OPEC Ministerial Meeting In view of current oil market fundamentals and the consensus on its outlook, the OPEC and participating non-OPEC oil producing countries decided to: 1. Reaffirm the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12th April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on the 18th July 2021. 2. Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the attached table, noting that the upward adjustment of 0.1 mb/d to the production level was intended only for the month of September 2022. tweet at 8:26am: OPEC+ SAYS CHAIRMAN TO CONSIDER CALLING FOR AN OPEC AND NON-OPEC MINISTERIAL MEETING ANYTIME TO ADDRESS MARKET DEVELOPMENTS, IF NECESSARY