IEA Monthly Report: Seasonal changes in crude oil extraction are driving refinery output to increase by 3.7 million barrels per day from May to August to meet summer travel demand in the northern hemisphere.

Domestic News 1. Ministry of Human Resources and Social Security, Ministry of Finance: Basic pension for retirees increased by 2%. 2. The visa exemption agreement between China and Malaysia will take effect on July 17. 3. Ministry of Commerce: Special operations have been deployed to combat the smuggling and export of strategic minerals. 4. Zhang Yuzhuo, director of the State-owned Assets Supervision and Administration Commission, visited Yushu Technology Company and Shendu Qiusuo Company for research. 5. Beijing: Strive to achieve an average annual growth of about 5% in the city's total market consumption by 2030. 6. Wang Yi: The negotiations on the China-ASEAN Free Trade Area 3.0 have been fully completed and the protocol will be signed within the year. 7. China Association of Automobile Manufacturers: my country's automobile production and sales in the first half of the year exceeded 15 million vehicles, and new energy vehicles performed well. 8. Trump announced a 50% tariff on copper, and the Ministry of Foreign Affairs said that the abuse of tariffs is not in the interests of either party. 9. He Yongqian, spokesperson of the Ministry of Commerce, said that at present, China and the United States maintain close communication on their respective concerns in the economic and trade fields at multiple levels. International News 1. OPEC+ considers suspending production increases from October and entering a wait-and-see period. 2. Musk announced the launch of the Grok 4 model, saying it will be applied to Tesla cars next week at the latest. 3. Source: EU-US tariff negotiations are accelerating, and the automotive industry is the "red line" for the EU. 4. The EU released the final version of the General Artificial Intelligence Code of Conduct, and AI regulation has taken another step forward. 5. A US judge blocked Trump's birthright citizenship order in a nationwide class action lawsuit. 6. Fed's Musallem: The US fiscal deficit is on an unsustainable path. It may become a financial stability issue in the future. 7. Brazil is considering filing a complaint with the World Trade Organization against Trump's trade measures.

The China Securities Regulatory Commission approved the registration of the initial public offering of Suzhou Huichuan United Power Systems Co., Ltd.