Saudi Arabia and allied oil producing countries face a decision Sunday on whether to extend production cuts set to expire next month — a move that could push oil prices higher as the summer travel season increases demand for fuel and as the U.S. presidential election contest heats up. The full OPEC+ alliance, made up of members of the producers cartel and allied countries, including Russia, is holding an online meeting, but the cuts in question concern a smaller group of eight, including the Saudis. Reasons include rising non-OPEC production, higher interest rates and concerns about demand due to slower than desired economic growth in Europe and China.
Ukraine's allies will step up to provide military assistance as the country weathers attacks by Russia, officials said at the Shangri-La Dialogue global defence forum in Singapore, where Ukrainian President Volodmyr Zelenskiy was a surprise visitor. More than two years after Russia invaded, Kyiv faces renewed assaults on its territory, particularly in the region around the northeastern city of Kharkiv. A greater flow of artillery ammunition has strengthened defences there, but more is needed - particularly surface-to-air missiles, said Germany's chief of defence, General Carsten Breuer.
Channel has remained quiet on the subject – until now