Pre-Trading Thoughts

The MPC acted conservatively, deciding to keep rates unchanged at 27.25% for overnight deposit and 28.25% for overnight lending rate, citing global uncertainties and a slower pace of inflation deceleration throughout 2H2024 with increased upside risk to the outlook. Local gas production dipped to an eight-year low of 4.87 billion cubic feet per day (bcf/d) in 2024, down 16% y-o-y. China's North Petroleum Corp. has earmarked USD100 million to acquire new concessions in Egypt or form part...