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CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

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CPI Pressures Remain Benign, PPI Aided By Higher Commodities, Base Effects

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MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Bloomberg & Reuters Sources Suggest OPEC+ Deeper Cuts Possible

OIL

Both Bloomberg and Reuters ran sources led stories Monday that OPEC+ was looking to deepen cuts at its upcoming Thursday meet.

  • The Bloomberg piece said that Saudi had asked other OPEC+ members to reduce their oil-output quotas to try and shore up global markets it cited delegates as saying.
  • The reports came as the group is still understood to be in discussions with Nigeria/Angola to agree 2024 quotas, as they seek higher limits.
  • An OPEC+ source said to Reuters that the group was looking to deepen its oil supply production cuts.
  • The source said that he expected there to be an option for “collective further reduction”.
  • Further information on OPEC+ intentions has been limited.
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