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OPEC and its allies Have reached an agreement Increase oil production in response to price spikes, and set a goal of resuming production cuts at the beginning of the pandemic by the end of 2022.

Initially, OPEC+ will extract an additional 400,000 barrels of oil per day from August, and the total output will increase by about 2 million barrels/day by the end of the year.

These monthly production increases will continue next year, and OPEC+ said it has extended the agreement from April 2022 to December 2022. The result of the long-delayed meeting should mean that after tight supply pushes up oil prices, the oil production of member states will increase to the highest level in three years in the next few months.

However, as Covid-19 variants continue to emerge, the slow production growth shows that people are lingering concerns about the strength of the global recovery. This also shows that oil producers are relatively satisfied with the current crude oil prices.

There are five more stories in the news

1. Delta variants have a place in developing countries Delta coronavirus variant Quickly become dominant Most parts of the world are causing serious losses to dozens of developing countries whose vaccination levels are insufficient to prevent a surge in cases from turning into a wave of deaths.

2. Pentagon drones are “8 to 14 times more expensive” than banned Chinese drones
The camera drone developed by the Pentagon is More expensive, less capable According to an internal US government memo read by the British “Financial Times”, they intend to replace products made in China.

3. The pandemic has reduced the wages of Asian garment workers by nearly US$12 billion
Asian garment workers have been Was deprived of nearly 12 billion U.S. dollars in wages According to a labor rights organization, severance payments were paid because international retailers cancelled orders and demanded price reductions after the pandemic.

4. China sells the remains of the Anbang Empire China Anbang Site Valued at more than 5.2 billion U.S. dollars The state controller recently tried to dissolve the once-superior group led by the imprisoned tycoon Wu Xiaohui.

5. The President of Tokyo Stock Exchange defended the progress of corporate governance Head of Tokyo Stock Exchange Defend Japan’s progress in corporate governance After Toshiba’s high-profile scandal, it refuted allegations that market reforms due next year were widely watered down.

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the day before

income IBM will release its earnings report today after the US market closes.

Quarantine reopening day British Prime Minister Boris Johnson started a 10-day self-quarantine on Sunday after contacting his Health Minister Sajid Javid, who tested positive for Covid-19. Johnson is still pushing ahead with his reopening plan that took effect today.

What are we still reading

Olympic hope A 21-year-old Japanese swimmer has become a rallying point for the organizers of the 2021 Olympic Games. Ikei RikakoThose who are expected to be absent from the 2020 Olympics due to the fight against leukemia, now have the opportunity to participate in the postponed competition and applaud the polarized competition.

• View: Japan’s fight against “blatant breach of the rules” during the 2021 Olympics was hampered by the lack of credibility of the government, wrote Leo Lewis.

Floods push the climate to the heart of the German election Only more than two months before voting day, the devastating flood that swept western Germany this week has already Drastic climate change To the heart of the country’s election campaign.

Inflation concerns are exaggerated The early signs of price increases reflect the predictable surge in animal spirits after the lockdown more than any long-term trend, writes Foroohar the Frog.

Mediocre workers have nowhere to hide Will mediocre employees thrive when they work from home or in the office? Although some employers doubt the motivation of employees who prefer to work remotely, some support the view that when teams work remotely, it is easier to determine which employees add the most value.

Food and drink

How Eritrean cooking came to Leeds Six young women who fled their motherland when they were young Share recipes From home.