MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

UAE Will Not Voluntarily Join Latest Oil Cuts: Energy Minister

OIL

The United Arab Emirates is contributing sufficiently to the OPEC+ production cuts and the producer is not planning to make any further voluntary supply restrictions at this time, Energy Minister Suhail Al Mazrouei said.

  • Voluntary cuts by other group members are sufficient to balance the oil market, he added.
  • On Monday Saudi Arabia announced to extend it July 1mbpd production cut by another month into August, while Russia said it is planning to cut exports by 500kbpd in August. Algeria also pledged to cut production by an additional 20kbpd next month.
  • As part of the OPEC+ voluntary output cuts announced in April, the UAE pledged to restrict production by 144kbpd from May onwards.
  • OPEC+ may need to invite newcomers to join the group, as the group’s job becomes easier with more members, Al Mazrouei 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.