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Goldman Sachs: We now expect total debt issuance by megacities to reach $420 billion in 2027, reflecting an upward revision to our capital expenditure forecast, which is more than 60% higher than our estimate of $250 billion for the whole of 2026.Tencent Wealth Managements current account + 7-day annualized yield ranges from a maximum of 1.4640% to a minimum of 0.7130%. WeChat Pays 7-day annualized yield ranges from a maximum of 1.01600% to a minimum of 0.8620%. Alipays Yuebaos 7-day annualized yield ranges from a maximum of 1.0700% to a minimum of 0.9000%.On September 18th, Futures News reported that the National Development and Reform Commission, the National Energy Administration, and the National Mine Safety Administration jointly issued a notice to accelerate the stable production and supply of coal through multiple measures. The notice stated that all coal-producing provinces (autonomous regions) and coal enterprises should, under the premise of ensuring safety, make every effort to ensure stable coal production and supply, continuously strengthen monitoring and scheduling, optimize production organization, actively and steadily promote the resumption of production at coal mines, accelerate the acceptance of coal mines undergoing joint trial operation, and promote a steady recovery in coal production to provide strong support for economic growth and energy supply. At the same time, the notice also put forward requirements for the signing and fulfillment of medium- and long-term contracts for thermal coal, leveraging the supplementary role of imports, and promoting the construction of successor coal production capacity. Next, relevant departments will strengthen overall coordination, guide all coal-producing provinces (autonomous regions) and coal enterprises to promptly implement various work arrangements, adjust and improve policies and measures, release coal production capacity reserves in a timely manner, and make every effort to stabilize coal production and supply and promote stable market operation.September 18th - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 AM on Sunday, September 20th, 2026. Shu Wei, spokesperson and deputy director of the State Administration for Market Regulation, and Yang Sheng, deputy director of the National Medical Products Administration, will introduce the relevant situation regarding promoting high-quality development of market regulation during the 15th Five-Year Plan period and answer questions from reporters.Reserve Bank of Australia Governor Bullock: Forward-looking indicators of the labor market remain stable.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

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