The Largest Ever Physical Transfer Of Gold
Archives of “June 1, 2020” day
rssOPEC+ to discuss extending the current oil output cuts for 1 – 2 months
Unnamed sources saying OPEC+ will discuss extending the current 9.7m b/d production cuts for 1 to 2 months
- Will also discuss holding monthly compliance meetings (complice is handled by the Joint Ministerial Monitoring Committee (JMMC))
FT: EU Budget Commissioner calls for a new tax on 70,000 large companies
Proposes the funds raised would be used for a coronavirus economic recovery fund
- tax would be a charge for access to the EU single market
- early stages of talks
The European Commissioner for Budget and Administration, headed by commissioner is Johannes Hahn.
- responsible for negotiating and managing the EU budget.
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Oil – OPEC + is close to bringing its meeting forward a week to June 4 (ie. this week)
Over the weekend Algerian Energy Minister Mohamed Arkab proposed the shift, the meeting is currently scheduled for June 9-10.
- Arkab currently hold the rotating presidency of OPEC
We should get a decision in the coming hours if the meeting is rescheduled.
Moving the meeting would likely give OPEC and its oil producing partners more flexibility to change current production limits.
- The existing deal is up for discussion at the next meeting
Thought For A Day
