Shares fell across Asia following declines on Wall Street, pressured by weak oil prices and concerns about China’s fiscal health. Treasuries slid after rallying on fresh signs of US labor market softness.
Exxon Mobil Corp. plans to raise share buybacks as the oil giant accelerates crude production in the US Permian Basin, boosted by its $60 billion acquisition of Pioneer Natural Resources Co.
Oil steadied after a three-day loss as Saudi Arabia said recent cuts by OPEC+ would be honored in full and could be extended, pushing back against persistent skepticism over the curbs’ effectiveness.
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