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According to the Islamic Republic News Agency (IRNA), as divisions within Israel over the Gaza ceasefire agreement continue to escalate, former Israeli Prime Minister Ehud Barak has criticized the performance of current Prime Minister Benjamin Netanyahu. Barak claims that Netanyahu has lost his negotiating influence with US President Trump, and that Israel has effectively been excluded from the decision-making process regarding the future of the Gaza agreement.

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) has expressed concern over attacks on energy infrastructure.

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) met on Sunday to emphasize the importance of protecting international sea lanes to ensure the continued flow of energy.

The OPEC+ statement made no mention of policy beyond September 2026.

OPEC+: The next meeting will be held on September 6.

OPEC+: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman agreed to adjust production and reaffirmed their commitment to market stability.

The statement indicates that OPEC+ has agreed to increase its September oil production quota by 188,000 barrels per day.

According to Iranian media FarsNews, the National Iranian Copper Company stated that by promoting the domestic production of equipment and components needed for its mine and copper plant expansion projects, it avoided approximately €49 million in foreign exchange outflows in 2026. To date, the company's domestic production contracts have resulted in cumulative foreign exchange savings of €125 million. Furthermore, the company plans to further avoid approximately €76 million in foreign exchange outflows during its expansion projects in 2027. It is reported that by 2026, 7,557 spare parts required by the National Iranian Copper Company's plants will be domestically produced, with a total value of approximately 9 trillion rials. Compared to the previous year, the number of domestically produced components increased by 17%, and the value of domestic manufacturing contracts increased by 56%. The National Iranian Copper Company stated that the continued promotion of equipment and component domestication helps reduce import dependence and enhance the self-sufficiency of the industrial chain.

Market news: OPEC+ has agreed in principle to increase daily production by 188,000 barrels and suspend production increases in the fourth quarter.

According to RIA Novosti, the Ukrainian drone attacks on various regions of Russia in the early hours of August 2nd were the largest of any such attacks.

Japanese Minister of Economy, Trade and Industry Ryomasa Akazawa: Even if we conservatively estimate that we can only maintain the procurement level of 75% of the same period in previous years, the use of national reserves will be sufficient to ensure oil supply until the end of March 2028.

Japanese Economy, Trade and Industry Minister Ryosuke Akazawa: August crude oil purchases are expected to reach approximately 100% of the same period last year, and the "quantity needed by Japan as a whole" has been secured.

The European-Mediterranean Seismological Centre reports that a 4.2-magnitude earthquake struck Michoacán, Mexico, at a depth of 64.3 kilometers.

According to the Iranian news agency IRNA, the latest report from the Commodity Exchange of Iran shows that 2,100 kilograms of silver ingots were deposited into the warehouse in a single day, surpassing the previous record of 2,000 kilograms. This increase in trading volume reflects enhanced liquidity in the silver depositary receipt market and increased market confidence in the trading mechanism. The main advantage of this trading instrument is that investors can invest in silver without worrying about transportation, physical storage, and security risks. Furthermore, the Commodity Exchange of Iran's guarantee of the authenticity and quality of the silver ingots is also considered a key factor in increasing the national treasury's commodity reserves. The report states that gold and silver funds must deposit a corresponding number of gold ingots, silver ingots, or gold coins into the warehouses of the Commodity Exchange of Iran based on the number of fund units issued in the capital market.

Russian authorities say they destroyed 635 Ukrainian drones overnight.

A Russian diplomat stated that Ukraine is a "major hub for illicit arms trafficking," and that large quantities of weapons supplied by Western countries are being diverted elsewhere through this "Ukrainian hub."

Russian diplomat: Ukraine is transferring some of the weapons provided by the West to conflict zones in Asia, the Middle East and Africa.

Russian diplomat: Ukraine has fueled the global black market arms trade.

Iranian Revolutionary Guards: Iranian military officials said the U.S. president’s claim that Iran had asked Iran to stop attacks was nonsense and a desperate attempt to blackmail and pressure the Persian Gulf rulers. Whether he continues his aggression or retreats, our forces are at the highest level of readiness and ready for any eventuality. If confrontation is inevitable, everything will be decided on the battlefield, when everyone will understand who holds the power and who will have the final say.

Visa (V.N) plans to cut 2,600 jobs in a restructuring driven by AI adoption and cost-reduction measures.