MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Russia Nears OPEC+ Targets in July: Novak

OIL

Russia’s crude production in July is slightly above its target as part of the OPEC+ voluntary cut agreement but the country will compensate according to Deputy PM Alexander Novak.

  • "We have nearly reached it [the required level of oil output within OPEC+]. We are close to it. We have somewhat 'underperformed' the target at full volume, so to speak," Novak said, speaking to domestic news outlets.
  • Moscow’s additional curbs will most likely happen in summer and early fall for technological reasons according to Bloomberg sources last week.
  • In the second quarter, Moscow pumped an excess of about 14.7 million barrels, according to Bloomberg calculations based on OPEC’s monthly reports.
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