EUR/USD
1.17339
-0.347%
Gold
3308.55
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Oil
65.431
-0.311%
USD/JPY
145.211
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GBP/USD
1.35890
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GBP/JPY
197.332
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Real-time News
On July 7, five sources said that OPEC+ oil producers will approve another substantial increase in production of about 550,000 barrels per day in September on August 3. OPEC+s plan to lift the voluntary production cut of 2.17 million barrels per day began in April, when production increased by 138,000 barrels per day. Despite the drop in oil prices, daily production in May, June and July increased by 411,000 barrels each. Last Saturday, the organization approved an increase of 548,000 barrels per day in August. Coupled with the substantial increase in production in September, OPEC+ will complete the lifting of the voluntary production cut of 2.17 million barrels per day. Sources said that as the UAE shifts to a larger production quota, this will also provide room for the UAE to increase production by 300,000 barrels per day.The Eurozones Sentix investor confidence index for July will be released in ten minutes.The Hang Seng Index in Hong Kong closed at 23,887.83 points, down 28.23 points, or 0.12%, on Monday, July 7; the Hang Seng Tech Index closed at 5,229.56 points, up 13.3 points, or 0.25%, on Monday, July 7; the CSI 300 Index closed at 8,608.54 points, down 0.73 points, or 0.01%, on Monday, July 7; and the H-share Index closed at 4,117.41 points, up 25.6 points, or 0.63%, on Monday, July 7.The US and Brent crude oil prices fell slightly in the short term, and are now at $65.62/barrel and $67.84/barrel respectively. On the news front, OPEC+ may increase production by about 550,000 barrels per day in September.Source: OPEC+s production increase in September will make up for the voluntary production cut of 2.17 million barrels per day. The production increase plan in September will also include an increase of 300,000 barrels per day in the production quota for the UAE.
