Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance going forward to compensate for flouting their quotas so far, OPEC sources told Reuters on Wednesday.  

KUALA LUMPUR (June 3): The Rubber Production Incentive (IPG) for May has been activated for Peninsular Malaysia, Sabah and Sarawak, and smallholders may apply for the payments based on their May production from June 1-30.

TOKYO (Reuters) - Japan’s factory output slid faster-than-expected and retail sales tumbled the most in more than two decades in April, as the coronavirus pandemic wrecked both foreign and domestic demand for the country’s autos and other manufactured goods.

The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors to step up holdings of riskier assets.

BEIJING (Reuters) - China’s vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world’s biggest auto market with the first back to back monthly sales increase in about two years.

TOKYO (Reuters) - Oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand.