Akintunde Oyedokun
Research Analyst
Crude prices climbed Monday, recovering part of last week’s losses after OPEC+ announced a smaller-than-expected production boost of 137,000 barrels per day starting in October. The restrained hike helped ease concerns of oversupply, with Brent gaining $1.13 to $66.63 a barrel and WTI adding $1.02 to $62.89.
Additional support came from rising geopolitical tensions after Russia launched its heaviest airstrike on Ukraine since the war began, sparking fears of tougher U.S. sanctions that could further tighten global oil markets.
German Exports Drop as U.S. Tariffs Bite, Sentiment Weakens
Germany’s exports fell 0.6% in July, driven by a 7.9% plunge in U.S. demand following new 15% tariffs on EU goods. While exports to non-EU countries dropped 4.5%, shipments to EU partners rose 2.5%, with trade to Central and Eastern Europe hitting a record share.
Investor morale in the eurozone sank to its lowest since April, while Germany’s trade surplus narrowed to €14.7 billion. Industrial production offered relief, climbing 1.3% in July and beating expectations.
China’s Export Growth Slows as U.S. Demand Drops
China’s exports grew 4.4% in August, the slowest in six months and below forecasts, as demand from the U.S. plunged 33%. Imports rose just 1.3%, signaling weaker domestic demand.
Beijing is pushing manufacturers to target Asian, African, and Latin American markets to offset U.S. tariffs but still aims to hit its 5% growth target without major fiscal stimulus, relying on credit and monetary easing.
Kenya Tourism Board Teams Up With Visa To Drive Tourism, Enhance Payment Solutions
Kenya Tourism Board on Monday revealed a new partnership with Visa designed to boost tourism spending and improve payment convenience for travelers. The initiative will include joint marketing campaigns to promote both local and cross-border tourism.
Visa will also provide the board with access to its Government Insights Hub, a data-driven platform that tracks travel trends, seasonal demand, regional preferences, and consumer spending patterns, helping shape smarter tourism strategies.
CBN Chief Hints at Lower Interest Rates as Inflation Cools
CBN Governor Olayemi Cardoso says lending rates, now at 32–36%, could fall as inflation eases and capital flows improve. Speaking at the Eurocham Nigeria Forum, he reaffirmed the bank’s focus on stability, bank recapitalization, and boosting investment.
Cardoso noted that inflation is gradually declining due to tight monetary policy and stressed that stronger banks and tech-driven financial inclusion are key to growth. July 2025 inflation dropped to 21.88%, down from 33.40% a year earlier.
