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Most of the interbank repo rates rose. FDR001 rose 3.0 basis points to 1.76%; FDR007 remained unchanged at 2.2%; and FDR014 rose 10.0 basis points to 2.2%.Market news: The price of one kilogram of gold exceeded $100,000 for the first time.On March 31, at the 2025 Electric Vehicle Hundred People Forum, two key technology paths in the new energy vehicle industry sparked heated discussions. The industry said that the battery swap model and NOA (navigation assisted driving) technology are forming a "two-wheel drive", the former reconstructing the value chain of the batterys entire life cycle, and the latter promoting intelligent driving into a new stage of large-scale popularization, which also marks that the new energy vehicle industry is entering a new stage of value reconstruction.Futures March 31 news, on March 31, London spot gold prices continued the bull market trend, breaking through $3,100/ounce during the session, setting a new record high again. 1. Zhou Mier, an analyst from the macroeconomic group of Chaos Tiancheng Research Institute, said that recently, the market risk preference has changed significantly, the US stock market is relatively weak, funds are looking for safe haven targets, and precious metals have become the first choice. In addition, with the continuous strengthening of the US "stagflation" expectations, precious metals are driven by economic factors and safe-haven factors to drive the price to break through. 2. In the short term, Zhou Mier said that with the end of the first quarter this week, asset prices will face fluctuations with the adjustment of positions. On Wednesday, Trump officially announced the reciprocal tariff plan, which will have a greater impact on the global financial market. On Friday, the US non-farm payrolls data for March will be released, and Federal Reserve Chairman Powell will deliver a speech at the same time, which will redefine the macro direction of the market. At a time when the US dollar index and US bond interest rates are volatile and the direction is unclear, it is still recommended to remain cautious. The long-term US dollar credit and debt logic will continue to drive the price of precious metals to remain strong, but it is necessary to be wary of the short-term volatility caused by market sentiment.On March 31, local time, the Japanese government released the latest loss estimates for the "Nankai Trough Earthquake". The data showed that if the "Nankai Trough Earthquake" occurred, the maximum economic losses would exceed 292 trillion yen, a significant increase from the previous estimate in 2013 (about 220 trillion yen). In addition, the estimated data released this time showed that if the "Nankai Trough Earthquake" occurred, it could cause up to 298,000 deaths.

OPEC+ Is Working to Compensate For Reduced Russian Oil Production

Charlie Brooks

Jun 02, 2022 15:57

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OPEC+ is attempting to compensate for a decline in Russian oil production, according to two OPEC+ sources on Thursday, as Russia's production has fallen by approximately 1 million barrels per day as a result of Western sanctions imposed on Moscow over the Ukraine crisis.


One OPEC+ source familiar with Russia's position stated that Moscow could agree to other producers paying for its lower output, but it may not occur on Thursday and may not be in full.


A Gulf OPEC+ source said that a resolution on the topic was "very probable" at Thursday's meeting.


Despite tighter global markets, it is largely anticipated that the group would adhere to its scheduled monthly small output increases when it meets online later on Thursday.


However, Western sanctions imposed on Russia over Ukraine may result in production and export cuts of up to 2 to 3 million barrels per day from the world's second largest oil exporter.


In April, Russia's supply of approximately 9.4 million barrels per day (bpd) was already below its OPEC+ target of 10.44 million bpd.