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]

Energy - The U.S. Department of the Interior is preparing to conduct a comprehensive assessment of oil and gas resources on public lands for the first time [1] - Turkey's energy minister announced that the national energy company TPAO expects to finalize an offshore exploration agreement with Bulgaria next month, with the Sakarya gas field producing approximately 9.5 million cubic meters of natural gas per day [1] Precious Metals and Mining - The International Copper Study Group forecasts a surplus of 61,000 tons in the global refined copper market by February 2025 [2] - The Indian government has notified that it will impose a temporary 12% tariff on certain steel imports for a period of 200 days [2] - Spot gold has surpassed the $3,500 per ounce mark for the first time, increasing by 2.14% in a single day, with a year-to-date increase of over $870; several gold jewelry brands have raised their prices by more than 1,060 yuan per gram in line with international gold price trends [2] Other - Iraq is set to avoid wheat imports for the third consecutive year [3] - The White House is accelerating the permitting process for 10 domestic mining projects [3] Oil and Gas - Pakistan has revised its oil reserves estimate upward by 23% [4] - The South Korean Ministry of Finance announced plans to reduce fuel tax exemptions starting in May [4] - Peskov stated that the ban on mutual strikes against energy facilities between Russia and Ukraine has expired [4] - Kazakhstan plans to export an additional 40,000 tons of gasoline in April, bringing the total export volume to 54,283 tons [4] - According to Nikkei News, the Japanese government and ruling party plan to provide subsidies starting in May to reduce gasoline prices by 10 yen per liter [4]