MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

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

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

Price Cap Not to Be Replicated Against OPEC: US Official

OIL

New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers according to a US official speaking with Reuters.

  • The US has communicated this with OPEC officials.
  • Relations between the US and de facto leader of the group Saudi have sourced after last weeks announcement to cut production – something the US feels is unwarranted given high domestic and global fuel prices.
  • The US Treasury official speaking with Reuters saw the cut's price impact as muted, saying it might take a $30-$40 price rise or an output cut 10 times the size of the actual cut to OPEC+ output of around 900,000 bpd to trigger a recession.
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.