ECB chief economist Lane said the US is not a dominant factor in global trade.

Sources say OPEC+ is likely to agree at its Aug. 2 meeting to raise the September production target by about 188,000 bpd, matching the June–August increases, though the war in Iran is preventing some members from boosting output. OPEC+ output remains well below quotas: June production was 36.28 mln bpd versus nearly 43.0 mln bpd in February before the conflict. Refinitiv calculations show that, after accounting for the UAE’s exit, a further ~188,000 bpd increase in the September target would fully unwind the 2023 production cuts.

Former CSRC Party Committee member and vice chairman Fang Xinghai is suspected of serious disciplinary and legal violations and is under disciplinary review and investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.