Qatar’s Wealth Fund Stays Active in China Despite US Concerns - Bloomberg
Qatar’s $524 billion sovereign wealth fund is continuing to explore investment opportunities in China, even as geopolitical tensions push global investors to tread carefully.
The Qatar Investment Authority is “actively looking at investments in China” but is taking steps to “avoid situations that potentially jeopardize relations with the US,” said Mohammed Al-Hardan, head of technology, media and telecommunications. “We can’t discount China. It is a very significant market,” he said at the Qatar Economic Forum in Doha on Thursday.
Al-Hardan’s comments come amid unease in Washington over a series of artificial intelligence-related deals inked during President Donald Trump’s recent tour of the Middle East. The agreements alarmed China hawks within the US administration, who fear American chip technology could be indirectly routed to Chinese partners via Gulf states, Bloomberg News has reported.
The QIA executive defended those deals, saying ensuring access to advanced chips is a “win-win for the US and the Middle East region.”
Last week, the QIA’s chief executive officer pledged to plow in an additional $500 billion in the US over the next decade. That would mean the fund is set to see its annual outlays into America double in coming years.
Thursday, 22 May 2025
OPEC+ Discusses Making Another Super-Sized Oil Output Hike in July - Bloomberg
OPEC+ Discusses Making Another Super-Sized Oil Output Hike in July - Bloomberg
OPEC+ members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said.
An output hike of 411,000 barrels a day for July — triple the amount initially planned — is among options under discussion, although no final agreement has yet been reached, said the delegates, asking not to be named because the information is private. A final decision is due to be taken at a gathering on June 1.
The cartel has helped sink crude prices since announcing 411,000-barrel hikes for May and June — equivalent to about 1% of current OPEC+ output — in a historic break with years of defending oil markets. Oil made a fresh plunge on Thursday, dropping 0.9% to $64.31 a barrel as of 9:13 a.m. in London.
While OPEC+ says the supply increases are to satisfy demand, officials have privately proffered a range of motives, from punishing over-producing members to recouping market share and placating President Donald Trump.
Group leader Saudi Arabia warned errant members such as Kazakhstan and Iraq at their last meeting that it could deliver further production increases unless they fall in line with their quotas. Despite some promises of atonement, the Kazakhs have made little effort to rein in international oil companies operating in the country and continue to export near record levels.
“Our call is for another 411,000 barrel-a-day increase in the OPEC quota in July, similar to May and June,” said Martijn Rats, global oil strategist at Morgan Stanley. “Compliance by the over-producing countries has not changed much, and so far, the previous quota increases have been absorbed by the market.”
In a Bloomberg survey, 25 of 32 traders and analysts predicted OPEC+ will indeed approve a hike of 411,000 barrels a day. Five said they expect the group to revert to a previous schedule of more modest increases, with a boost of 138,000 barrels.
Coinciding with the launch of Trump’s trade war in April, the surprise supply hikes from OPEC+ initially took a brutal toll on oil prices, sending crude to a four-year low near $60 a barrel in London. Futures have recovered since then as the White House rolled back some of its tariffs.
Even so, many forecasters now have a bearish outlook for the market this year. Last week, the International Energy Agency predicted that global oil demand growth will slow during the remainder of 2025 after a robust first quarter due to economic headwinds.
Consequently, Goldman Sachs Group Inc. has predicted that the Organization of the Petroleum Exporting Countries and its partners will pause further hikes after agreeing on the increase for July.
Eight key OPEC+ nations will hold a video-conference on June 1 to settle July production levels. The full 22-nation alliance will also hold a set of virtual meetings on May 28, where it will have the opportunity to review underlying production quotas for 2025 and 2026.
“If there is indeed a shift in policy toward market share and away from price defense, it then makes sense to unwind quickly,” said Harry Tchilinguirian, head of oil research and analytics at Onyx Commodities Ltd. “It’s a little like a band-aid: you pull it off in one swoop and not slowly.”
OPEC+ members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said.
An output hike of 411,000 barrels a day for July — triple the amount initially planned — is among options under discussion, although no final agreement has yet been reached, said the delegates, asking not to be named because the information is private. A final decision is due to be taken at a gathering on June 1.
The cartel has helped sink crude prices since announcing 411,000-barrel hikes for May and June — equivalent to about 1% of current OPEC+ output — in a historic break with years of defending oil markets. Oil made a fresh plunge on Thursday, dropping 0.9% to $64.31 a barrel as of 9:13 a.m. in London.
While OPEC+ says the supply increases are to satisfy demand, officials have privately proffered a range of motives, from punishing over-producing members to recouping market share and placating President Donald Trump.
Group leader Saudi Arabia warned errant members such as Kazakhstan and Iraq at their last meeting that it could deliver further production increases unless they fall in line with their quotas. Despite some promises of atonement, the Kazakhs have made little effort to rein in international oil companies operating in the country and continue to export near record levels.
“Our call is for another 411,000 barrel-a-day increase in the OPEC quota in July, similar to May and June,” said Martijn Rats, global oil strategist at Morgan Stanley. “Compliance by the over-producing countries has not changed much, and so far, the previous quota increases have been absorbed by the market.”
In a Bloomberg survey, 25 of 32 traders and analysts predicted OPEC+ will indeed approve a hike of 411,000 barrels a day. Five said they expect the group to revert to a previous schedule of more modest increases, with a boost of 138,000 barrels.
Coinciding with the launch of Trump’s trade war in April, the surprise supply hikes from OPEC+ initially took a brutal toll on oil prices, sending crude to a four-year low near $60 a barrel in London. Futures have recovered since then as the White House rolled back some of its tariffs.
Even so, many forecasters now have a bearish outlook for the market this year. Last week, the International Energy Agency predicted that global oil demand growth will slow during the remainder of 2025 after a robust first quarter due to economic headwinds.
Consequently, Goldman Sachs Group Inc. has predicted that the Organization of the Petroleum Exporting Countries and its partners will pause further hikes after agreeing on the increase for July.
Eight key OPEC+ nations will hold a video-conference on June 1 to settle July production levels. The full 22-nation alliance will also hold a set of virtual meetings on May 28, where it will have the opportunity to review underlying production quotas for 2025 and 2026.
“If there is indeed a shift in policy toward market share and away from price defense, it then makes sense to unwind quickly,” said Harry Tchilinguirian, head of oil research and analytics at Onyx Commodities Ltd. “It’s a little like a band-aid: you pull it off in one swoop and not slowly.”
#SaudiArabia settles lower, worst weekly performance in over a month | Reuters
Saudi Arabia settles lower, worst weekly performance in over a month | Reuters
Saudi Arabia's main stock index closed lower on Thursday, clocking its worst weekly performance in over a month, after official reports showed that crude oil exports in March declined.
The kingdom's stock index (.TASI), opens new tab shed 1.02% on Thursday, underperforming its peers in the Middle East. It was down 2.5% for the week.
Official data on Wednesday showed the country's crude oil exports in March fell to 5.754 million barrels per day from 6.547 million bpd in February.
Oil prices, a catalyst for stock markets in the Gulf, also dropped by more than a percent after Bloomberg reported OPEC+ was discussing a production increase for July, which raised worries that global supply could exceed demand growth. O/R
Dubai's benchmark index (.DFMGI), opens new tab snapped two consecutive sessions of decline, ending 0.26% higher. UAE-based insurer Dubai Insurance (DINC.DU), opens new tab was the top gainer on the index, jumping 15% to a near 21-year high.
The index has been bolstered by a slew of business agreements between the U.S. and UAE announced last week during President Donald Trump's Gulf Tour.
Saudi Arabia's main stock index closed lower on Thursday, clocking its worst weekly performance in over a month, after official reports showed that crude oil exports in March declined.
The kingdom's stock index (.TASI), opens new tab shed 1.02% on Thursday, underperforming its peers in the Middle East. It was down 2.5% for the week.
Official data on Wednesday showed the country's crude oil exports in March fell to 5.754 million barrels per day from 6.547 million bpd in February.
Oil prices, a catalyst for stock markets in the Gulf, also dropped by more than a percent after Bloomberg reported OPEC+ was discussing a production increase for July, which raised worries that global supply could exceed demand growth. O/R
Dubai's benchmark index (.DFMGI), opens new tab snapped two consecutive sessions of decline, ending 0.26% higher. UAE-based insurer Dubai Insurance (DINC.DU), opens new tab was the top gainer on the index, jumping 15% to a near 21-year high.
The index has been bolstered by a slew of business agreements between the U.S. and UAE announced last week during President Donald Trump's Gulf Tour.
Elsewhere, the main stock indices in Abu Dhabi (.FTFADGI), opens new tab and Qatar (.QSI), opens new tab ended the session flat on Thursday. Qatar's benchmark index saw its biggest weekly rise since October 2024.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab, closed up 0.44% ahead of an expected rate cut by the country's central bank later on Thursday.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab, closed up 0.44% ahead of an expected rate cut by the country's central bank later on Thursday.
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