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Oil: Lower For Longer?

• Although Opec+ will almost certainly extend existing cuts at its 26 November meeting and might agree to modest additional trimming, growth in non-Opec+ production is currently on track to see global output outpacing demand through 2024.

By Alastair Newton

Kuwait CPI Inflation 0.4% m-o-m in Oct-23

- Kuwait's CPI inflation experienced a significant increase of 0.4% month-on-month in October 2023, marking the highest level since June 2023.
- The current inflation rate in October 2023 is 0.08 percentage points above the one-year average and 0.10 percentage points above the long-run average, indicating a potential shift in consumer purchasing power.

Kuwait CPI Inflation 0.3% m-o-m in Sep-23

- Kuwait's CPI inflation showed a 0.3% month-on-month growth in September 2023, the highest since June 2023.
- The September CPI inflation was in line with the one-year and long-run averages.

Kuwait M2 money supply 3.65% y-o-y in Aug-23

- Kuwait's M2 money supply grew by 3.65% year-on-year in August 2023, the lowest growth rate since July 2022.
- The growth rate is 1.37 percentage points below the 1-year average and 2.94 percentage points below the long-run average.