Group 1 - The oil minister of Kuwait expresses an optimistic view on the fundamentals of the oil market [1] - OPEC+ efforts are aimed at ensuring energy security and market balance [1]

Energy - The UAE Energy Minister stated that OPEC+ is making every effort to balance the market and ensure sufficient investment in supply. Without OPEC+, especially the G7, the situation would descend into chaos [2] Precious Metals and Mining - The Governor of Florida signed a bill recognizing gold and silver as legal tender [3] - The Brazilian government announced an extension of trade protection measures for the steel industry, maintaining a 25% tariff on 19 steel products and expanding this measure to four additional products [3] - France and Indonesia signed a strategic defense cooperation agreement and agreements in agriculture and critical minerals [3] Agriculture - The Mexican Ministry of Agriculture announced an agreement with the U.S. to reopen Mexican beef exports to the U.S. [3] - Canada is projected to export 896,968 tons of canola seed by March 2025 [3] Oil and Gas - A Reuters survey indicated that Saudi Arabia's crude oil prices for Asia may drop to a six-month low in July [4] - Chevron received limited permission to continue operations in Venezuela from the U.S. [4] - The Australian Environment Department approved the Woodside LNG project extension in the northwest until 2070 [4] - Oman’s oil revenue for Q1 2025 is expected to decline by 13% year-on-year to 1.468 billion rials [4]

Core Viewpoint - The UAE Energy Minister stated that without sacrifices from the OPEC group, market balance would not be achievable [1] Group 1 - The statement emphasizes the importance of OPEC's collective actions in stabilizing the oil market [1] - It suggests that individual member sacrifices are crucial for overall market equilibrium [1]