All eyes are on both the G20 and OPEC this week. And while 82% of the worlds proven oil reserves are located in OPEC member states, the G20 summit will be more closely watched in a time where political risk has heightened. President Trump has already dialled up the temperature, taking time away from criticising Federal Reserve Chairman Jerome Powell and Iran to have a pop at India and Japan. Trump is unhappy with India’s imposition of tariffs on US goods even though it was an act of retaliation and questions Japan’s loyalty.
G20 meetings have long been criticised as a “talking shop” were little is achieved, and disputes magnified. Nevertheless, investors will be waiting to see if there is progress on trade talks that has slowed global growth this year. The last G20 summit saw China and the US agree to a 90-day truce. A similar outcome looks unlikely this time but expect trade talks and Iran to dominate the agenda.
Read what the team at FE consider to be significant over the current week.