The Organization of Petroleum Exporting Countries (OPEC) reduced 2016 estimates for supplies of non-OPEC countries as the slump in prices takes its toll on the U.S. shale-oil industry. OPEC cut 2016 estimates for non-OPEC output by 110,000 barrels a day, its Vienna-based secretariat said Monday in its monthly market report.
The inflation rate (CPI) in India fell slightly with 3 basis points to 3.66% in August, official figures have shown. The drop is partly due to a stabilization in food prices following improved weather conditions. Lower inflation has led to calls for India’s central bank, the Reserve Bank of India, to cut the official interest rate, which currently stands at 7.25%.
The EU has decided to extend the penalties against Russia with six months. These penalties have been created as a response to the role of Russia in the Ukraine conflict and the annexation of the Crimea. Among other things, several Russians and Russian companies directly related to president Putin or involved in the conflict, cannot dispose of their savings accounts held with EU banks.
The 6M Euribor remained unchanged at 0.04%. The 10Y Swap increased with 1 basis point to 1.01%.
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