[Daily Global Commodity Market News Express (May 2) ] 1. Iraq and Kazakhstan have submitted compensatory oil production cuts. <...

< b > [Daily Global Commodity Market Highlights Express (May 2) ] < br > < span class = "section-news" > 1. Iraq and Kazakhstan have submitted compensatory oil production reduction plans. < br > < span class = "section-news" > 2. G7 energy ministers will work to gradually reduce imports of natural gas from Russia. < br > < span class = "section-news" > 3. Indian government: From May 1, the tax on crude oil windfall profits will be reduced from Rs 9,600 per ton to Rs 8,400 per ton. < br > < span class = "section-news" > 4. OPEC crude oil production fell by 50,000 barrels per day to 26.81 million barrels per day in April. Production remained stable and the new production cut plan has not yet been completed. < br > < span class = "section-news" > 5. Venezuelan President: Venezuela lost more than $2 billion in the first four months of this year due to the re-imposition of sanctions on the oil industry by the United States. < br > < class span = "section-news" > 6. Betting that inflation stickiness will keep demand for raw materials strong, investors put money into a wide range of commodity ETFs to the highest level in more than two years. < br > < span class = "section-news" > 7. Argentine industry officials: Argentina's grain ports were affected for the second day in a row due to strikes.