Oil Prices Surge as OPEC+ Maintains Steady Production Increase

by News Editor

June 2, 2025

In a strategic move, OPEC+ opted to uphold its production hike of 411,000 barrels per day into July, mirroring increases over the last two months. This decision offered a haven to markets anticipating a heftier output boost. Consequently, oil prices climbed significantly, with Brent crude futures escalating by 2.13% to $64.12 a barrel, while U.S. West Texas Intermediate also saw a rise to $62.31.

Interestingly, this steadfast approach by OPEC+ comes amidst pressure from within its own ranks, as nations like Kazakhstan signal resistance to reducing their output levels, complicating the group’s objective to regulate market supply.

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Expectations now turn to August, where analysts from Goldman Sachs foresee another incremental increase. The group’s strategy aligns with anticipated robust global oil demand patterns, a sentiment further buoyed by a notable spike in gasoline demand—marking the advent of the U.S. driving season.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

by THEFUTURE.TEAM

July 17, 2026

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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