OPEC+ Does Not Think It Is Necessary To Further Cut Crude Oil Production, Minister Says

According to CCTV, on May 29 local time, Kenyan President Ruto said that African countries should end their dependence on the US dollar in mutual trade and switch to local currencies.

US President Joe Biden said at the G7 Summit: we are not looking to decouple from China.

"Don't hoard goods." Recently, some industry insiders have suggested on social media that the commodity market can hardly improve amid oversupply, and it is not advisable to hoard goods.

The amount of money available to pay bills in the US has increased, providing a respite for the government as it struggles to maintain spending until it finds a solution to the debt ceiling.

SHANGHAI, May 16 (SMM) - The US non-farm payrolls rose 253,000 in April, far exceeding expectations, and its unemployment rate was 3.4%, hitting a new low since 1969.

The People's Bank of China (PBOC) data showed that at the end of April, the balance of broad money (M2) was 280.85 trillion yuan, up 12.4% year-on-year.

The US dollar closed at 101.42 and fell 0.21; crude oil fell 0.68 and stood at 72.76;

According to preliminary statistics from the China Passenger Car Association, from April 1 to April 30, the retail sales of passenger vehicles reached 1.652 million, a year-on-year increase of 58% and a month- on-month increase of 4%.

On Wednesday May 3, local time, the International Monetary Fund (IMF) said in its latest economic forecast for the Middle East and Central Asia that Saudi Arabia needs an international oil price of $80.90 a barrel to achieve a balanced budget this year.

According to a new reported released by the World Bank, food, energy and metals prices are likely to continue to face downward pressure in 2023, but inflationary pressures remain high as commodity prices remain above pre-pandemic levels, and consumers may feel little relief.