News

Saudi Aramco CEO: We are exploring additional crude oil export routes and are committed to expanding the scale of our overseas oil storage facilities.

Saudi Aramco CEO: The vast majority of these crude oil inventories are currently unusable.

Saudi Aramco CEO: Global commercial onshore crude oil inventories are now well below 6 billion barrels, which is currently the last available buffer.

On Oct. 11, inbound foreign arrivals at Shanghai ports exceeded 31,000, a single‑day record. The rising flow reflects stronger foreign demand to travel to China. Through Q3, Shanghai ports inspected 5.138 million inbound foreign arrivals, up 18.5% YoY. Visa‑free and 240‑hour transit visa‑free entries totalled 3.431 million, or 66.8% of the inbound foreign arrivals.

The National Highway Traffic Safety Administration (NHTSA) has launched a defect investigation into approximately 1,000 Tesla Robotaxis. A petition against Tesla alleges that the vehicles in question exceeded the published speed limits in school zone speed limits when these zones were in operation.

Russia attacked a gas production facility belonging to Naftogaz, the Ukrainian state-owned gas company, in the Kharkiv region overnight.

Sources familiar with the matter say Saudi Arabia is increasingly dissatisfied with the limited aid provided by its Western allies. They say the UK has provided an aerial refueling tanker, but Saudi Arabia's requests for additional defense support in recent weeks have yet to be approved.

India's SENSEX index fell 1%.

The Deputy Governor of the Central Bank of Russia stated that the released budget data is consistent with our July forecast and will allow for further easing of monetary policy.

Iranian Foreign Ministry spokesman Baghae, responding to a question about whether Iran had communicated with Oman and the UAE regarding the US Central Command's (CENTCOM) fuel smuggling activities in the Strait of Hormuz with the UAE's cooperation, stated: "There is no doubt that the US is using the Strait of Hormuz to both plan and prepare military operations against Iran, and to engage in so-called illegal passage or fuel smuggling activities." Baghae stated that the memorandum of understanding reached on March 28th (Iranian calendar) has run into problems, partly due to the US's breach of faith. The US began using unsafe shipping lanes from the very first few days, and the current situation is a direct result of its breach of commitment. He emphasized that the Strait of Hormuz is clearly under the surveillance of Iran's powerful armed forces. If necessary, the Iranian armed forces will take necessary measures to safeguard national interests and national security.

Russian Central Bank Deputy Governor: A three-year budget is an important but not the only condition for an interest rate cut in 2027.

Russian Economy Minister: Risks from non-economic factors, such as attacks on infrastructure, could lead to deviations from economic growth forecasts.

Iranian Foreign Ministry spokesman Baghae responded to claims by Western officials and media that Iran had exacerbated current global economic and energy tensions, stating that a media propaganda campaign attempting to distort cause and effect is underway. Baghae stated that the facts are clear: the Strait of Hormuz remained open until the 9th of Aban in the Iranian calendar (February 28th in the Gregorian calendar). The current deterioration in shipping safety in the Strait of Hormuz, and its resulting impact on the regional and global economy, stems from actions taken by the US and Israeli regimes. He added that if countries expressing concern about the current situation are truly serious, they should confront those responsible and seize every opportunity to compel the US to cease its ongoing acts of aggression.

OPEC Secretary General: There is insufficient investment globally in the upstream, downstream and midstream sectors.

OPEC Secretary General: Global demand for primary energy will increase by 23% by 2050.

Iranian Foreign Ministry spokesman Baghae, speaking about terrorist activities against Iran and consultations with regional countries, stated that Iran is closely monitoring the activities of terrorist organizations in the east, and its security and military departments will take strong measures to respond to any related actions. Baghae stated that Iran has no doubt that the sabotage of its border security is part of a series of malicious actions orchestrated by the Israeli regime and the United States. He also stated that Iran is consulting directly with regional countries, and all parties understand that security problems in one area could spread to other regions. Iran is working diligently with all its land and sea neighbors to prevent terrorists from exploiting the situation.

French President Macron: We need a genuine ceasefire between Russia and Ukraine. Note that Russian bombing in Ukraine continues.

French President Macron: France and Germany are close to reaching an agreement on “Made in Europe” requirements and flexibility.

Ukrainian President Zelensky: We see no indication that Russia wants to end the war or take any de-escalation measures.

Ukrainian President Zelensky: The amount of diesel supplied by Russia will not have an impact on the global market.