The Organization of Petroleum Exporting Countries deepened production cuts in April with laggards improving compliance with its historic deal to limit output. Overall, output fell by 40,000 barrels a day from a month earlier to 31.895 million barrels, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Iraq, the second-biggest producer in the group, and Venezuela came closer to their targets. Source Bloomberg
GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
Yearly subscription: 10 issues for 225€
The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.
At the beginning of the week, it was a police patrol that had been targeted near the city of Tarterêts. It was not the police that they were attacking this time but the army. A army patrol was attacked and rocked this Friday night around 20 hours in Corbeil-Essonnes by ten young hooded. Source Le Parasien
Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt. Source Reuters
SHANGHAI, May 26 China’s yuan on Friday extended the previous day’s big gain, hitting its strongest level in more
than three months, and the Chinese currency was on track for its best week since mid-January. Source Reuters