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June 12th Futures News: On June 12th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 236,681 tons, an increase of 872 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 1,557 tons, an increase of 600 tons compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,640 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 3,116 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 95,070 tons, a decrease of 1,150 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.The German DAX 30 index opened 372.79 points higher, or 1.54%, at 24,582.68 on Friday, June 12; the UK FTSE 100 index opened 71.37 points higher, or 0.69%, at 10,375.25; and the French CAC 40 index opened 110.87 points higher, or 1.35%, at 8,311.67. The Stoxx 50 index opened 89.39 points higher, or 1.48%, at 6146.35 on Friday, June 12; the Spanish IBEX 35 index opened 307.60 points higher, or 1.68%, at 18597.70 on Friday, June 12; and the Italian FTSE MIB index opened 638.76 points higher, or 1.26%, at 51143.50 on Friday, June 12.According to Futures News on June 12, as of 15:00 Beijing time, spot platinum rose 0.53% and spot palladium rose 2.05%.Spains final CPI reading for May was 0.1%, in line with expectations and unchanged from the previous months 0.10%.Spains final May CPI annual rate was 3.2%, in line with expectations and down from 3.20% previously.

OPEC+ Is Working to Compensate For Reduced Russian Oil Production

Charlie Brooks

Jun 02, 2022 15:57

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OPEC+ is attempting to compensate for a decline in Russian oil production, according to two OPEC+ sources on Thursday, as Russia's production has fallen by approximately 1 million barrels per day as a result of Western sanctions imposed on Moscow over the Ukraine crisis.


One OPEC+ source familiar with Russia's position stated that Moscow could agree to other producers paying for its lower output, but it may not occur on Thursday and may not be in full.


A Gulf OPEC+ source said that a resolution on the topic was "very probable" at Thursday's meeting.


Despite tighter global markets, it is largely anticipated that the group would adhere to its scheduled monthly small output increases when it meets online later on Thursday.


However, Western sanctions imposed on Russia over Ukraine may result in production and export cuts of up to 2 to 3 million barrels per day from the world's second largest oil exporter.


In April, Russia's supply of approximately 9.4 million barrels per day (bpd) was already below its OPEC+ target of 10.44 million bpd.


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