OPEC cuts 2026 oil demand growth forecast to 600,000 bpd, down from its prior month's assessment, the group said Wednesday from Vienna.

Philippines issues red alert on Visayas grid as multiple plants remain offline Wednesday. Available capacity ~2,153 MW vs peak demand 2,394 MW; Mindanao has nine plants on forced outage.

Red and yellow alerts were raised for power grids in central and southern Philippines on Wednesday as several power plants remained unavailable, according to the National Grid Corporation of the Philippines (NGCP). The Visayas red alert is in effect with available capacity at about 2,153 MW against a projected peak demand of 2,394 MW. In Mindanao, nine power plants are on forced outage for August, with 11 unavailable since 2024 and nine others operating at derated capacities.

Germany's inflation rate jumped to 2.8% in July from 2.3% in June, driven by energy prices, Destatis said Wednesday. Economists warn record-low Rhine water levels could push prices higher.

Germany's inflation rate accelerated to 2.8% in July, up from 2.3% in June and 2.6% in May, according to official data released Wednesday. Destatis president Ruth Brand said energy prices remained the key driver, while economists warned that record-low water levels on the Rhine could add further price pressures.

Erdogan says the Mecca Joint Defense Agreement could expand beyond Türkiye, Saudi Arabia and Pakistan to 'all brotherly countries' seeking regional stability

Turkish President Recep Tayyip Erdogan said the Mecca Joint Defense Agreement could expand beyond its three current members—Türkiye, Saudi Arabia and Pakistan—and is open to "all brotherly countries" seeking peace, prosperity and stability in the region. He said the pact is built on collective deterrence to strengthen regional security.

France places 78 departments under orange heat alert as temperatures forecast to reach 40C; nearly 70% of the country now under water-use restrictions

France puts 78 departments under orange heat alert; temperatures are forecast to reach 40C as a heat wave sweeps across the country, with nearly 70% of France currently under water-use restrictions.