Financial Times - oil producers spring surprise output cut of more than 1mn barrels a day

Summary of the front page

The Financial Times splashes on the revelations from oil producing nations that they will be cutting back production by more than a million barrels a day.

According to the paper, the move has put Saudi Arabia on a “collision course” with the US as it attempts to boost prices.

Today's top stories

696x392 cmsv2 27701073 aaad 576f ab1b 6ff403f214fd 9831204

NATO shifts focus towards Europe as US reduces defence commitments

Jamie Shea, former NATO security adviser, articulates a shift towards NATO 3.0, emphasising it will predominantly be “a European show” rather than an American-led initiative. He notes the US is expected to play a reduced role in collective defence, diverging from its historical influence during the Cold War.

GettyImages 2285140903 1783580719

Flooding from Tropical Storm Maysak claims 39 lives in southern China

Flooding from Tropical Storm Maysak has resulted in 39 fatalities in southern China, primarily due to a dam breach in Nanning. Authorities have evacuated about 130,000 residents, deploying over 8,000 personnel and 5,700 boats for rescue. Heavy rainfall continues to threaten additional flooding.

1783576811 TOURISM CALGARY IN TORONTO PIC 01

Tourism Calgary promotes campaign at downtown Toronto subway station

A new tourism campaign has introduced Calgary-themed colours and references at a downtown Toronto subway station, aimed at welcoming passengers and promoting Calgary’s attractions. The initiative highlights the city’s culture and seeks to enhance its visibility among travellers.

2026 07 08t160748z 1867135847 rc2s9ma59emc rtrmadp 3 nato summit trump

US military conducts second consecutive night of strikes on Iran

The U.S. military executed a new series of strikes on Iranian targets late Wednesday, aiming to weaken Iran’s capabilities in the Strait of Hormuz. CENTCOM reported around 90 targets were hit, following Iranian assaults on commercial oil tankers. Tensions escalated as Kuwait declared missile and drone threats.

Like this article?

Leave a comment

From our sponsors
Advertisement
Advertisement