Opec+ agrees small oil output rise in rebuff to Biden; UK inflation ‘could hit 15%’ – as it happened

Oil producers will lift oil production by 100,000 barrels per day in September, a much smaller rise than in recent months

Despite economic headwinds, German exports beat forecasts with 4.5% growth in June.

Exports from Europe's largest economy hit a record level thanks to demand from the European Union, the United States and China, data this morning shows.