MNI China Daily Summary: Monday, June 24

MNI BRIEF: China Urges Removal Of Car Buying Restrictions

MNI: PBOC Net Injects CNY46 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1201 Mon; -1.20% Y/Y

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1201 MON VS 7.1196

MNI: UK JUN CBI INDUSTRIAL TRENDS TOTAL ORDERS -18

CBI Price Expectations Return to Similar Levels to Mar'24 High

IFO Suggests Stall in Recovery

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

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Russia Discusses October Oil Exports With OPEC+ Partners

OIL

Russia is discussing with its OPEC+ partners the possibility of extending oil-export cuts into October, but no decision has been made so far, Deputy Prime Minister Alexander Novak said according to Interfax.

  • The decision will depend on the market situation, Novak said according to Tass.
  • While Novak didn’t provide the baseline figure, industry data seen by Bloomberg show that the country exported an average of 4.86 million barrels a day from May to June by sea and pipelines. In July, crude supplies to foreign markets averaged some 4.28mbpd, or about 574kbpd below the baseline. The majority was redirected to the domestic market as Russian refineries completed seasonal maintenance and increased their oil processing last month. The nation’s producers raised crude supplies to refineries by around 303kbpd, compared with the average from May to June, to 5.66mbpd in July according to Bloomberg calculations based on industry data.
  • Novak also said Russia complied with its pledged production cuts and 500kbpd export cut in August.
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