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Beijing, June 21 — Li Xingqian, vice president of the China Council for the Promotion of International Trade, met Masayoshi Matsumoto, president of the Kansai Economic Federation and chairman of Sumitomo Electric Industries, to discuss deepening inst

2026-06-22

Beijing, June 21 — Li Xingqian, vice president of the China Council for the Promotion of International Trade, met Masayoshi Matsumoto, president of the Kansai Economic Federation and chairman of Sumitomo Electric Industries, to discuss deepening institutional cooperation and jointly maintaining stability and smooth operation of global industrial and supply chains.

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2026-06-22

On the 21st, a member of Iran’s negotiating team said a draft exemption for oil sanctions has been finalized and will be issued soon. Administrative steps to unfreeze Iran’s frozen funds are underway with participation from a Qatari delegation.

On the 21st, a member of Iran’s negotiating team said a draft exemption for oil sanctions has been finalized and will be issued soon. Administrative steps to unfreeze Iran’s frozen funds are underway with participation from a Qatari delegation.
2026-06-22

Iraq’s deputy minister for upstream affairs said Baghdad plans to gradually restore crude output to 4.2–4.3 mln bpd. ANZ expects an initial recovery in the first four weeks of roughly 2.0–3.0 mln bpd. Recovery remains uncertain: ANZ sees a possible 2

Iraq’s deputy minister for upstream affairs said Baghdad plans to gradually restore crude output to 4.2–4.3 mln bpd. ANZ expects an initial recovery in the first four weeks of roughly 2.0–3.0 mln bpd. Recovery remains uncertain: ANZ sees a possible 2.0–3.5 mln bpd restoration by Q3 2026, conditional on market stability, while a further 1.0–2.0 mln bpd of supply could be permanently or semi-permanently lost. ANZ added early gains will come mainly from logistics (transport), not production; later output depends on upstream wells and refinery restarts. Full restoration is unlikely this year.
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