The U.S. Supreme Court will hear oral arguments on the Trump tariff case on November 5.
Jinse Finance reported that the U.S. Supreme Court has scheduled oral arguments for November 5 regarding the legality of Trump's broad imposition of global tariffs. This represents a major test of one of Trump's boldest assertions of executive power, which has always been a core part of his economic and trade agenda. Earlier this month, the justices announced they would hear the case after a lower court ruled that Trump had overstepped his authority by imposing most of the tariffs under a federal law intended to address emergencies.
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Saudi Arabia's oil production in October surged by 26%, reaching the highest level since the onset of the conflict, while Brent crude has dropped over 20% this month
OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.
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