Iraq Denies Government Proposals to Leave OPEC
Iraq’s Ministry of Oil denied government proposals to leave OPEC, emphasizing commitment to production quotas.
Dollar on track for largest monthly gain in a year amid Fed rate hike expectations
inflation data that could confirm growing investor confidence that the Federal Reserve will raise rates at least once this year.
US inflation hits three-year high as consumer spending rises
US consumer spending accelerated in May as prices rose at the fastest pace in over three years.
EU countries push for oil exploration to be considered green investment
This means that oil and gas sector giants investing billions in new oil wells and gas fields could be included in sustainable investment funds.
Mexico invests $40 billion in state plan to develop renewable energy
Mexico plans to invest $40 billion in renewable energy by 2030, aiming for 32,000 MW of new capacity.
Schnabel from ECB: Further rate hikes needed to achieve 2% inflation target
However, since then, progress in peace negotiations has significantly reduced oil prices.
French Nuclear Reactors Cut Production Due to Extreme Heat and Environmental Regulations
In France, a number of nuclear reactors are forced to operate at reduced capacity due to extreme heat.
Germany Prepares to Raise Retirement Age: Merz Supports Reform
Federal Chancellor Friedrich Merz defended pension reform proposals in the Bundestag, calling them a big step towards a new pension system.
Finance Minister Bessent: US GDP growth could return to 3% by year-end
He expressed confidence that the US economy could resume this trajectory.
Gas discovery in Suriname boosts Petronas’ offshore reserves to over one billion barrels
This was announced by the President of Suriname, Jennifer Simons, at an energy conference in the capital Paramaribo.