Latest news with #supplyglut
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Beijing Removes Suburban Home-Purchase Limit
Chinese property stocks rose in Hong Kong after Beijing scrapped longstanding restrictions on the number of homes city residents can buy in suburban areas, the latest move to revive the country's ailing real-estate sector and address a supply glut. The Hang Seng Mainland Properties Index rose as much as 1.7% on Monday before paring gains to 1.1% by midday, outperforming the benchmark Hang Seng Index's 0.2% increase.
Yahoo
6 days ago
- Business
- Yahoo
China extends probe on imported beef in respite for global suppliers
By Ella Cao and Lewis Jackson BEIJING (Reuters) -China has extended for three months an investigation period for beef imports, the commerce ministry said on Wednesday, giving global suppliers a breather from the prospect of trade curbs as domestic industry battles to reduce a supply glut. The inquiry, launched last December, came as slowing demand squeezes the world's largest market for imports and consumption, but does not target a particular country. However, trade measures to reduce imports would hit major suppliers such as Argentina, Australia, Brazil and the United States. The investigation will now run until November 26, the ministry said, citing "the large volume of investigative work and the complexity of the case". It also pledged to ensure a "healthy and stable" global trade environment by communicating with all parties. "It's definitely a relief to beef exporters," said Even Rogers Pay, agriculture analyst at Trivium China. "The extension buys Beijing a few months to see whether the domestic industry can regain profitability without safeguards, and hopefully to make progress on other issues with major beef exporters." Although trade measures such as quota curbs were still not completely off the table, it was more likely something could be worked out quietly rather than being imposed, she added. Authorities have ramped up support for the industry, including financial measures. In July, an agriculture ministry official said beef cattle farming had been "generally profitable" for three consecutive months. China imported a record 2.87 million metric tons of beef in 2024, but imports of 1.3 million metric tons for the first half of 2025 were down 9.5% on the year.
Yahoo
6 days ago
- Business
- Yahoo
China extends probe on imported beef in respite for global suppliers
By Ella Cao and Lewis Jackson BEIJING (Reuters) -China has extended for three months an investigation period for beef imports, the commerce ministry said on Wednesday, giving global suppliers a breather from the prospect of trade curbs as domestic industry battles to reduce a supply glut. The inquiry, launched last December, came as slowing demand squeezes the world's largest market for imports and consumption, but does not target a particular country. However, trade measures to reduce imports would hit major suppliers such as Argentina, Australia, Brazil and the United States. The investigation will now run until November 26, the ministry said, citing "the large volume of investigative work and the complexity of the case". It also pledged to ensure a "healthy and stable" global trade environment by communicating with all parties. "It's definitely a relief to beef exporters," said Even Rogers Pay, agriculture analyst at Trivium China. "The extension buys Beijing a few months to see whether the domestic industry can regain profitability without safeguards, and hopefully to make progress on other issues with major beef exporters." Although trade measures such as quota curbs were still not completely off the table, it was more likely something could be worked out quietly rather than being imposed, she added. Authorities have ramped up support for the industry, including financial measures. In July, an agriculture ministry official said beef cattle farming had been "generally profitable" for three consecutive months. China imported a record 2.87 million metric tons of beef in 2024, but imports of 1.3 million metric tons for the first half of 2025 were down 9.5% on the year. Sign in to access your portfolio
Wall Street Journal
07-07-2025
- Business
- Wall Street Journal
Oil Slips on Larger OPEC+ Output Hike
Oil prices slipped after the Organization of the Petroleum Exporting Countries and its allies agreed to a larger-than-expected production hike for the fourth straight month, fueling concerns about a global supply glut at a time when the demand outlook looks uncertain. Eight OPEC+ countries said they will increase production by 548,000 barrels a day in August–the equivalent of four monthly increments and above the 411,000 barrels a day forecast by analysts.
Bloomberg
04-07-2025
- Business
- Bloomberg
Vakhshouri: OPEC a Stabilizing Factor in Oil Market
Oil was trading slightly lower ahead of an OPEC+ meeting on July 6 that is set to deliver another oversized production hike. The alliance is discussing a further increase of more than 400,000 barrels a day from August which risks causing a supply glut later in the year. Dr. Sara Vakhshouri President & Founder at SVB Energy International spoke to Bloomberg's Lizzy Burden on Horizons Middle East and Africa about the upcoming meeting. (Source: Bloomberg)
