
Oil Traders Expect a Fourth Bumper OPEC+ Oil Supply Increase
Eight key OPEC+ nations are preparing to discuss another hike of 411,000 barrels a day, due to take effect in August, delegates said last week. They'll likely approve the move when they hold a video conference on Sunday, according to a survey of 26 traders and analysts.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
27 minutes ago
- Bloomberg
Trump Aides Envision Presidential Trip to China With CEOs in Tow
By and Catherine Lucey Save President Donald Trump's administration is reaching out to business executives to weigh interest in accompanying him on a possible trip to China this year, according to people familiar with the matter, highlighting the potential for strengthening ties between the economies even as the US signals its desire to decouple from Beijing. The Commerce Department is making calls to gauge interest from chief executives at some US companies, said the people, who were granted anonymity because the discussions are private. It is unclear how many company leaders have been asked to participate or whether any have confirmed.
Yahoo
43 minutes ago
- Yahoo
Alibaba Cloud to Launch Second Data Center in South Korea Amid Global AI Expansion
Alibaba Group Holding Limited (NYSE:BABA) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. In order to enhance its regional infrastructure and satisfy the growing demand for AI and cloud services, Alibaba Cloud, the cloud computing division of Alibaba Group Holding Limited (NYSE:BABA), announced plans to open a second data center in South Korea on June 18. Christopher Penler / In addition to the company's current Korean node, which was inaugurated in 2022, the new facility will be situated close to Seoul and will enhance computing capacity and redundancy for enterprise and government clients. This comes at a time when Alibaba Cloud is investing more than $52 billion in AI-driven infrastructure across Asia, Europe, the Americas, and the Middle East as part of its 'unified global cloud network.' Alibaba Group Holding Limited (NYSE:BABA) is an e-commerce and technology company that caters to small business owners and consumers. The company is also a pioneer in cloud computing, logistics, and digital media. While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


New York Times
43 minutes ago
- New York Times
A New Generation Rises in Seoul's Jewelry District
The main shopping streets of Jongno, Seoul's jewelry district, are lined with glass-front shops displaying what's for sale inside: gold bangles, diamond necklaces, pearl earrings, jade rings. You could be in New York City's diamond district or Hatton Garden in London, except the storefront signage is in Korean characters. If you look down an alley, there might be a scorched-rice stall, a woman selling cabbages and carrots from a cart, shoppers with designer handbags or an old house with the traditional scallop tile roof that now houses a pastry shop. And at the end of a main street: the Changdeokgung Palace, a home to Korea's royalty since 1405. 'Jongno is the largest jewelry district in the world,' said Kyung-Ju Nam, the leader of the government-funded Seoul Jewelry Industry Support Center. She and two other industry experts — Hyunsung Ohn, the director of the privately funded Wolgok Jewelry Industry Research Institute, and Oh Hyo Keun, the chairman of the Korea Precious Metals and Jewelry Association, an industry organization — had gathered in Ms. Nam's office in the jewelry district for an interview. Want all of The Times? Subscribe.