MNI BRIEF: Aussie Monthly CPI At 4%, Higher Than Expected

MNI: PBOC Net Drains CNY28 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY250 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1248 Weds; -0.56% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1248 WEDS VS 7.1225

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

Monthly CPI Firmer In Y/Y Terms, Core Measure Mixed

Australia May CPI +4.0%; Housing Price +5.2%

MNI: AUSTRALIA MONTHLY MAY CPI 0.2% MM, 4.1% YY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OPEC Adjusts Baseline for African Member States

OIL

During the 36th OPEC and non-OPEC Ministerial Meeting the group announced the new production levels for 2024 for the African members states Angola, Congo and Nigeria in line with the assessment by three independent sources, OPEC wrote.

  • Angola’s oil output has been revised to 1.11mbpd, Congo to 0.227mbpd and Nigeria to 1.5mbpd.
  • Brazil will join OPEC+ starting January 2024.
  • The 37th OPEC and non-OPEC Ministerial Meeting will be held on 1 June 2024 in Vienna.
  • Not included in the group’s official press release but drawn from headlines citing delegates:
  • OPEC+ will cut oil output by 2mbpd in 2024. These cuts are voluntarily and any additional cuts will be announced by the member state individually. This includes: Saudi Arabia will extend its 1mbpd cut into 1Q 2024. Russia will reduce production by 500kbpd through 1Q 2024. Algeria will cut output by 50kbpd in January.
  • OPEC+ may meet again before the end of the year, the Algerian Energy Minister said.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.