Global Commodities: 5 Charts to Watch This Week.

OPEC+ surprised the market with a production cut of over 1 million barrels a day, causing oil prices to surge. Exxon will provide details of its low-carbon solutions business at an investor event on Tuesday. The Biden Administration's new criteria for the full $7,500 tax credit provision in the Inflation Reduction Act is expected to reduce the number of eligible EV models in the US. The United Nations will release its monthly report on global food costs on Friday, with food inflation still a concern. Shipping demand has slowed due to a milder-than-expected winter in Europe, leading to oversupply and high stockpiles of fuel oil in Singapore.