Interim president RODRIGUEZ said Venezuela's oil production is expected to reach 1.4 mln b/d by year-end.

A PENTAGON internal assessment reported July 15 says actual U.S. spending on military operations against Iran could be as high as $100bn, well above the roughly $30bn the U.S. government has disclosed. The gap is attributed to undisclosed operational expenses, losses of advanced aircraft and significant damage to U.S. military facilities in the Middle East. Senator Angus King said the public is very disappointed by the lack of transparency and highlighted follow-on consumer costs, including higher gasoline prices.

Fubao data: electric-carbon spot basis index -1,620 yuan/ton (+290); battery-grade lithium carbonate 144,950 yuan/ton (-5,000); industrial-grade lithium carbonate (composite) 142,450 yuan/ton (-5,000); premium battery-grade 145,950 yuan/ton (-5,000); lithium hydroxide index 130,333.33 yuan/ton (-4,500); metallic lithium index 1,046,250 yuan/ton (-5,000); Fubao brine (lithium sulfate) discount coefficient 77% (+1 percentage point).