Eurozone final September services PMI 53, matching expectations and the prior reading of 53.

Energy: 1. OPEC+ decides to maintain November production levels. 2. Iranian Oil Minister Ahmadinejad resigns. 3. Kuwait's crude oil production fell by approximately 200,000 barrels per day in September, to 1.77 million barrels per day. 4. Sources: Kazakhstan's oil and condensate production fell 7% in September compared to August. 5. Japanese Chief Cabinet Secretary Minoru Kihara: Japan plans to stop releasing crude oil from its national reserves. 6. Royal Automobile Club (RAC): Average diesel prices surpass £2 per liter for the first time. 7. Saudi Arabia unexpectedly lowered its November crude oil prices for Asia while raising prices for Northwest Europe and the Mediterranean. 8. OPEC+'s oil production capacity assessment has been delayed; the work is expected to be completed by mid-November. 9. Ship tracking data shows that at least three LNG cargoes have departed the Strait of Hormuz since last weekend. 10. The G7 decided to release up to 100 million barrels of diesel and crude oil reserves over four months, with a large release of diesel reserves concentrated in the first 20 days. 11. Russian Deputy Prime Minister: Russia will consider partially lifting diesel export restrictions given the current overproduction situation, as the domestic market is currently in a supply-demand balance. 12. Italian oil company Eni: A project investment decision is expected by the end of the year, with plans to produce 12 million tons of liquefied natural gas annually. 13. A South Korean Ministry of Trade, Industry and Energy official stated that the $8.4 billion oil project mentioned by US President Trump is not part of the South Korea-US agreement. 14. Russian Deputy Prime Minister Novak stated that Russia and Saudi Arabia will discuss the oil market situation and forecasts for 2026-2027 in Riyadh on October 12. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) noted significant volatility and supply shortages in the global oil market. Agriculture/Mining: 1. Zimbabwe plans to eliminate food import tariffs to mitigate the impact of crop shortages. 2. Goldman Sachs: Nearly half of Türkiye's capital outflows in September flowed into foreign exchange and gold deposits.

ECB chief economist Lane said the bank should pursue a moderate policy response while assessing second‑round effects from the renewed energy shock. Oil and gas prices spiked after the Iran war and the euro area has shown stronger‑than‑expected resilience. New energy‑price pressure raises upside inf risk and could weigh on growth; the ECB must judge whether the second‑round shock will hit activity and inf dynamics more strongly than the first. Monetary policy remains on a middle path; two rate hikes to date are intended to secure medium‑term disinflation toward the 2% target. Lane and other policymakers say energy‑cost increases have not yet altered inf expectations but remain vigilant; Economists and markets expect further tightening.