IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil prices dropped at the start of Monday’s trading session as OPEC+ announced a larger-than-expected output hike, heightening concerns about a potential oversupply in the global market.
Brent crude futures slipped 67 cents, or 1%, to $67.63 a barrel as of 2308 GMT. U.S. West Texas Intermediate (WTI) crude saw a sharper decline, falling $1.20, or 1.8%, to $65.80 per barrel.
The drop follows OPEC+’s decision over the weekend to increase oil production by 548,000 barrels per day (bpd) in August. This marks a significant rise from previous monthly hikes of 411,000 bpd in May through July and 138,000 bpd in April. The meeting was the group’s first since recent geopolitical tensions—sparked by Israeli and U.S. strikes on Iran—caused oil prices to spike and then retreat.
The Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, cited a stable global economic outlook and robust market fundamentals, such as low inventory levels, as justification for ramping up supply. However, the move has triggered market anxiety over whether the supply increase could outpace demand recovery, especially amid persistent economic uncertainties in major markets.
The decision underscores OPEC+’s balancing act between stabilizing prices and meeting growing global energy demands. While the group aims to support economic momentum by easing output restrictions, investors are wary that the rapid increase in supply could put downward pressure on oil prices in the short term.
As oil traders monitor upcoming demand data and geopolitical developments, market volatility is expected to persist. The next OPEC+ meeting will be closely watched for signs of any shift in production strategy.
