Latest news with #marketstability
Trade Arabia
18 hours ago
- Business
- Trade Arabia
OPEC+ nations agree production adjustment of 411,000 bpd in July
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually today (May 31) to review global market conditions and outlook. In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on December 5, 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from April 1, 2025, the eight participating countries will implement a production adjustment of 411,000 barrels per day in July 2025 from June 2025 required production level. Equivalent to three monthly increments, the gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3rd 2024. They also confirmed their intention to fully compensate for any overproduced volume since January 2024. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on 6 July 2025 to decide on August production levels.
Arabian Business
a day ago
- Business
- Arabian Business
OPEC+ countries announce oil production increase
OPEC+ countries have announced a significant increase to oil production levels in July. The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023 met virtually on May 31 to review global market conditions and outlook. The countries are: Saudi Arabia Russia Iraq UAE Kuwait Kazakhstan Algeria Oman OPEC+ oil production boost In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on December 5, 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411,000 barrels per day in July 2025 from June 2025 required production level. This is equivalent to three monthly increments as detailed in the table below. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3, 2024. They also confirmed their intention to fully compensate for any overproduced volume since January 2024.
Zawya
5 days ago
- Business
- Zawya
India limits equity derivatives expiries to Tuesdays and Thursdays: IFR
India's market regulator said expiries of all equity derivatives contracts will be limited to Tuesdays or Thursdays to protect investor interests and promote market stability. Spacing out expiry days through the week reduces concentration risk and provides exchanges an opportunity to offer product differentiation to market participants, the Securities and Exchange Board of India said in a statement on Monday. Additionally, "too many expiry days has the potential to revive expiry day hyperactivity which could jeopardize investor protection and market stability," the regulator said. The change is effective June 15. Sebi in March launched a consultation for this proposal after the National Stock Exchange proposed changing its expiry day to Monday, a day before BSE's. Currently, NSE offers expiries on Thursdays. Exchanges will need to seek prior Sebi approval to modify the settlement day of their derivatives contracts, the regulator said.
Yahoo
6 days ago
- Business
- Yahoo
India limits derivatives expiry days to Tuesday or Thursday
BENGALURU (Reuters) -India's markets regulator said that expiries of all equity derivatives contracts will be limited to either Tuesdays or Thursdays from next month, to enhance investor protection and market stability. The Securities and Exchange Board of India (SEBI) said in a statement on Monday that spacing out of expiry days through the week reduces risk and enables stock exchanges to offer product differentiation. SEBI said that "too many expiry days has the potential to revive expiry day hyperactivity which could jeopardize investor protection and market stability." The change will come into effect on June 15. In October, SEBI reduced the number of weekly options contracts available for investors to trade to one benchmark index per exchange, among other measures to curb a frenzy in derivatives trading. Since then, while exchanges have restricted their weekly contract expiries to one, they have been trying to offer contracts expiring on different days of the week, going against the regulator's objective of reducing opportunities for retail investors to speculate on such contracts. SEBI said on Monday that exchanges will have to seek its approval for modifying the settlement day of derivatives contracts. At present, India's largest exchange National Stock Exchange (NSE) offers expiries on Thursdays, while competitor BSE Ltd offers them on Tuesdays. NSE, in March, put on hold a proposed change of Nifty expiry days from Thursday to Monday from April 5, 2025. 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
Reuters
6 days ago
- Business
- Reuters
India limits derivatives expiry days to Tuesday or Thursday
BENGALURU, May 26 (Reuters) - India's markets regulator said that expiries of all equity derivatives contracts will be limited to either Tuesdays or Thursdays from next month, to enhance investor protection and market stability. The Securities and Exchange Board of India (SEBI) said in a statement on Monday that spacing out of expiry days through the week reduces risk and enables stock exchanges to offer product differentiation. SEBI said that "too many expiry days has the potential to revive expiry day hyperactivity which could jeopardize investor protection and market stability." The change will come into effect on June 15. In October, SEBI reduced the number of weekly options contracts available for investors to trade to one benchmark index per exchange, among other measures to curb a frenzy in derivatives trading. Since then, while exchanges have restricted their weekly contract expiries to one, they have been trying to offer contracts expiring on different days of the week, going against the regulator's objective of reducing opportunities for retail investors to speculate on such contracts. SEBI said on Monday that exchanges will have to seek its approval for modifying the settlement day of derivatives contracts. At present, India's largest exchange National Stock Exchange (NSE) offers expiries on Thursdays, while competitor BSE Ltd offers them on Tuesdays. NSE, in March, put on hold a proposed change of Nifty expiry days from Thursday to Monday from April 5, 2025.
