The People's Bank of China (PBOC) and the Bank of the Lao PDR renewed a bilateral local-currency CNY/LAK swap agreement and a memorandum of understanding on cooperation in financial innovation, digital payments and central bank digital currency (CBDC). The signings, approved by China's State Council, took place during Lao President Thongloun's visit to China and are intended to promote bilateral financial cooperation and deepen trade ties.

Saudi foreign ministry said Saudi and Qatari foreign ministers discussed the impact of recent developments on the region.

Market sources said Russia plans to cut crude exports in June to divert barrels to higher refinery runs amid seasonal fuel demand and reported regional shortages. Preliminary data show shipments from western ports Primorsk, Ust-Luga and Novorossiysk could fall from 2.5 mln b/d in May to about 1.7 mln b/d in June; sources said part of the reduction reflects lower crude output. Deputy Prime Minister Novak has said Russian oil output has fallen since the start of the year due to unplanned refinery maintenance. Sources estimate refiners will seek to lift crude processing by 250–400 kb/d in June, but restoring crude output will take considerable time.