OPEC+ Decision to Impact Global Energy Markets.

World oil prices have stabilized due to indications that OPEC+ plans to delay the partial recovery of production. This follows the implementation of a ceasefire agreement between Israel and Hezbollah, which has contributed to a reduction in geopolitical risks. The price of US West Texas Intermediate (WTI) crude oil increased by 0.1% to $68.84 per barrel, following a 3% decline in the previous two sessions. Conversely, Brent crude oil prices declined by 0.27% to $72.81 per barrel. OPEC+ is anticipated to defer a scheduled production increase in January 2025 for several months due to indications of an oversupply. Despite the recent 60-day ceasefire agreement between Israel and Hezbollah, attacks have continued, highlighting the difficulties in reaching a long-term agreement. Crude oil prices have remained relatively stable, influenced by a combination of positive and negative factors. The market could be influenced by various factors, including the potential for a second Trump presidency and geopolitical risks associated with Russian and Iranian supply.

Israel-Hizbullah Sepakat Gencatan Senjata, Harga Minyak Global Stabil

Fed's Decision to Shape Economic Outlook.

The Federal Reserve (Fed) in the US has indicated its support for a cautious approach to future interest rate cuts, given the stability of the economy and the gradual decrease in inflation. The minutes of the Federal Open Market Committee (FOMC) meeting held in early November indicate that the Fed plans to transition gradually towards a more neutral policy stance over time, contingent on sustained decreases in inflation to 2% and continued high employment levels. The Federal Reserve (Fed) has previously reduced its benchmark interest rate by 25 basis points this month, following a larger cut in September. In a recent statement, Federal Reserve Chair Jerome Powell emphasized that there is no immediate need to lower interest rates further, given that the current economic indicators do not suggest the necessity for such an action. The next policy meeting is scheduled for December 17-18. At this meeting, the Fed may decide to pause further rate cuts and maintain the current interest rate.

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China: Trade War Won't Benefit US and China.

The Chinese Embassy in Washington has stated that neither the United States nor China will benefit from a trade war. This is in response to US President-elect Donald Trump's proposal to impose a 10% tariff on all Chinese imports. Liu Pengyu, spokesperson for the Chinese Embassy, emphasized that China-US economic and trade cooperation is mutually beneficial and that neither party would emerge victorious from a trade war or tariff war. Trump's decision to impose tariffs is driven by his objective of securing China's cooperation in halting the flow of illicit drugs, particularly fentanyl, into the United States. However, Liu countered that China has taken substantial steps to combat drug trafficking since the agreement between President Joe Biden and Chinese President Xi Jinping. Notable progress has been made in the cooperation to curb the illicit trafficking of fentanyl precursors, which demonstrates China's commitment to addressing this issue.

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