Rolling coverage of the latest economic and financial news, as Opec+ pauses oil output hikes beyond December amid fears of a crude glut
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The oil price is rising after the world’s biggest oil producers agreed to pause their planned oil production hikes in the first months of next year, to assuage fears that the global market may become oversupplied with crude.
“Sanctions on Russian producers have injected a new layer of uncertainty into supply forecasts, and the group knows that overproducing now could backfire later.”
9am GMT: Eurozone manufacturing PMI for October
9.30am GMT: UK manufacturing PMI for October
9.30am GMT: UK public sector productivity statistics
2.45pm GMT: US manufacturing PMI for October
Continue reading…Rolling coverage of the latest economic and financial news, as Opec+ pauses oil output hikes beyond December amid fears of a crude glutGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The oil price is rising after the world’s biggest oil producers agreed to pause their planned oil production hikes in the first months of next year, to assuage fears that the global market may become oversupplied with crude.“Sanctions on Russian producers have injected a new layer of uncertainty into supply forecasts, and the group knows that overproducing now could backfire later.”9am GMT: Eurozone manufacturing PMI for October9.30am GMT: UK manufacturing PMI for October9.30am GMT: UK public sector productivity statistics2.45pm GMT: US manufacturing PMI for October Continue reading…