OPEC
Key OPEC+ members agree to again boost oil production
Eight key OPEC+ members, including Saudi Arabia and Russia, have agreed to increase daily oil production by 137,000 barrels starting next month. Analysts interpret this move as a strategic effort by the V8 grouping to expand their market share in crude oil sales. The decision reflects an ongoing adjustment to global oil supply dynamics.
OPEC+ set to raise oil output further from October, sources say
OPEC+ is poised to agree on a further increase in oil output, but is likely to slow the pace of increases from October due to weakening global demand. The group will discuss boosting output at an online meeting, potentially unwinding a second tranche of cuts ahead of schedule.
OPEC+ set to raise oil output further from October, sources say
OPEC+ is poised to agree on further increasing oil output, potentially slowing the pace of increases from October due to weakening global demand. A deal to boost output from October would unwind a second tranche of cuts of about 1.65 million bpd, more than a year ahead of schedule.
Hedge funds jump into bullish oil bets on tight supply signals
Hedge funds significantly increased bullish bets on crude oil, anticipating market tightness and geopolitical tensions, just before reports surfaced that OPEC+ might consider boosting output. This bullish move, the largest since June, occurred as hopes for a resolution in Ukraine faded and US crude inventories declined.
5 world market themes for the week ahead
Global markets brace for a week of pivotal economic data from the U.S., China, and Japan, alongside key central bank meetings. Investors are keenly awaiting the U.S. inflation report, influencing potential Federal Reserve rate cuts. Political uncertainties in France and Norway add to the market's cautious sentiment.
Oil & Gas Industry Layoffs 2025: ConocoPhillips, Chevron, BP, Petronas, OMV, among companies cutting jobs
Oil and gas company layoffs 2025: Global oil and gas firms plan more job cuts in 2025. This follows reductions last year due to falling oil prices and industry changes. Halliburton, OMV, and ConocoPhillips are among those reducing staff. Chevron, BP, and Petronas also have layoff plans. Equinor and Shell are cutting jobs in renewables and exploration.
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Sensex, Nifty50 end little changed as IT, consumer selloff offsets GST 2.0 led rally
Indian benchmark indices Sensex and Nifty concluded Friday's trading session with minimal movement. Profit booking in consumer and IT sectors counteracted gains in the auto industry, which was boosted by proposed tax cuts under the "GST 2.0" overhaul. The Sensex experienced a slight decrease, while the Nifty 50 saw a marginal increase.
Sensex jumps over 250 pts, Nifty tops 24,800 as GST optimism drives rally to third day
Indian stock markets continued their upward trend. Sensex and Nifty rose for the third consecutive day. This surge was fueled by optimism surrounding proposed tax changes under GST 2.0. Reliance Industries and HDFC Bank were key drivers of this growth. The BSE Sensex opened higher. The NSE Nifty also saw gains, sustaining the positive momentum throughout the week.
Oil prices ease as investors await OPEC+ output decision
Oil prices edged lower for the third consecutive day as investors anticipate the upcoming OPEC+ meeting, where further output increases will be considered for October. The potential boost in production could lead to unwinding output cuts ahead of schedule. Meanwhile, U.S.
GIFT Nifty up 60 points; here's the trading setup for today's session
Equities closed slightly higher following the GST Council's approval of a simplified tax structure, expected to boost consumer demand and corporate earnings ahead of the festive season. Technically, a Nifty move above 24,750 could lead to further gains, while failure to sustain this level may trigger selling pressure. FIIs were net sellers, while DIIs were net buyers.
Oil prices ease on surprise build in US crude stockpiles, OPEC+ to consider output hike
Oil prices dipped about 1% to a two-week low due to a surprise increase in U.S. crude inventories and expectations that OPEC+ may raise output targets. Weak U.S. economic data also fueled speculation of a Federal Reserve interest rate cut.
US stock futures: S&P and Nasdaq gain while Dow dips — here are the top stocks to watch as traders eye jobs report
US stock market futures traded mixed this morning, with the S&P 500 and Nasdaq inching higher while the Dow slipped as investors turned cautious ahead of Thursday’s key jobs data. A stronger showing from tech giants like Apple and Alphabet kept momentum alive, but weak guidance from Salesforce and jitters in global markets signaled that traders are balancing optimism with caution.
GST reforms: Oil & gas margins to compress as GST on exploration hiked to 18%
The GST Council's decision to raise the tax on oil and gas exploration and production services to 18% from 12%, effective September 22, will increase production costs. Experts warn this move, coupled with moderating oil and gas prices, will compress corporate margins and make E&P projects less competitive, potentially hindering domestic output.
Rupee falls 1 paisa to 88.03 against US dollar in early trade
The Indian Rupee experienced a slight dip against the US dollar, settling at 88.03. This occurred amidst foreign investment outflows and a strong dollar. However, GST rate cuts and lower oil prices cushioned the fall. The services sector showed strong growth. Sensex and Nifty saw gains. Foreign investors sold off equities. Market watchers anticipate a trading range for the rupee.
Oil prices extend losses on OPEC+ considers another output hike
Oil prices decreased on Thursday. Investors are waiting for the OPEC+ meeting this weekend. Producers will consider increasing output targets. Brent crude and U.S. West Texas Intermediate crude both fell. OPEC+ may raise production in October. The group seeks to regain market share. U.S. crude stocks rose last week, according to the American Petroleum Institute.
US stock market today: Nasdaq, S&P 500 climb as Google antitrust ruling lifts tech stocks, while Dow slides on tariff and bond fears
US stocks split direction on Wednesday as Google’s courtroom victory sent the S&P 500 and Nasdaq higher, while the Dow struggled under tariff uncertainty, rising bond yields, and fresh labor data that sharpened bets on a September Fed rate cut.
Sensex rises 410 pts, Nifty50 tops 24,700 as banks, metal stocks advance
Indian markets closed higher on Wednesday, driven by banking and metal stocks, as investors anticipated GST Council updates regarding potential rate cuts. The Nifty rose by 0.55%, and the Sensex increased by 0.51%. Metal stocks surged, led by Tata Steel, while the IT index lagged due to concerns over U.S. manufacturing data.
Sensex slips 100 pts, Nifty below 24,600 as banks & IT weigh ahead of GST meet
Indian benchmark indices Sensex and Nifty experienced a decline on Wednesday, primarily influenced by the downturn in banking and IT sectors. Investors exhibited caution in anticipation of the GST council meeting, where potential rate cuts on various goods are expected. The S&P BSE Sensex fell by 0.16%, while the NSE Nifty 50 also dropped by 0.16%.
Oil prices hold on to gains from US sanctions
Oil prices are stable in Asian trading. The market is awaiting the OPEC+ meeting. U.S. imposed sanctions on companies smuggling Iranian oil. U.S. crude oil stockpiles are expected to fall. Economic data is soft. China is holding a military parade. Xi Jinping, Vladimir Putin and Kim Jong Un are attending. China is challenging the U.S. with a new global order.
Oil rises as Russia-Ukraine tensions stoke supply concerns
Oil prices experienced an increase due to growing concerns about potential supply disruptions stemming from the escalating conflict between Russia and Ukraine. Ukrainian drone attacks have significantly impacted Russia's oil processing capacity, leading to heightened anxieties. Geopolitical tensions are further amplified by China's pursuit of a new global order, challenging the U.S.
Beyond mileage myths: Why ethanol blending makes sense for India
Ethanol blending emerges as a pragmatic strategy for India, aiming to reduce reliance on crude oil imports and bolster energy security. By utilizing surplus grain and promoting second-generation ethanol from crop residues, India can stabilize farm incomes and combat pollution from stubble burning. While EVs have a role, ethanol offers an immediate, scalable solution, balancing energy needs with environmental responsibility.
India's fuel demand slows down in August
India's fuel demand growth slowed in August, impacting overall oil consumption. Petrol, diesel, and cooking gas saw reduced growth compared to April-July. Jet fuel consumption declined significantly, influenced by factors like tensions with Pakistan and the Air India crash. This slowdown, coupled with global economic concerns, could affect India's oil imports and has global implications as well.
Oil holds in tight range, rising output offsets Russia supply disruptions
Oil prices remained range-bound on Monday, influenced by concerns over increasing production and potential demand reduction due to U.S. tariffs, offsetting disruptions from intensified Russia-Ukraine conflict impacting Russian oil exports. Ukrainian President's vow to retaliate Russian strikes adds to the uncertainty. Market anticipates the upcoming OPEC+ meeting on September 7 for insights into potential output increases, while U.S.
Oil glut, strong ruble and sanctions wipe billions off Russia’s oil giants
Russian oil companies, including Rosneft, experienced a significant profit decline in the first half of the year. This downturn was attributed to lower crude prices, the strengthening ruble, and the impact of EU and US sanctions. The industry slump was further exacerbated by fears of a global oil glut and potential economic slowdown due to tariff policies.
Oil prices fall with expected low demand, upcoming supply boost
Oil prices declined as traders anticipated weaker U.S. demand after Labor Day and a potential supply increase from OPEC+ this autumn. Market sentiment was also influenced by uncertainty surrounding Russian supply and India's continued purchase of Russian oil despite U.S. pressure. While U.S. crude inventories showed strong draws, concerns linger about the impact of tariffs on future economic outlook.
India's Russian oil imports set to rise in September in defiance of US
India is poised to increase its Russian oil imports in September due to discounted prices and refinery outages in Russia caused by Ukrainian attacks. Despite U.S. tariffs and EU price caps, India continues to rely on Russian crude, benefiting from cheaper supplies while facing international scrutiny.
Petrol margins soar above Rs 11 per litre. Should you buy oil marketing company stocks now?
Indian fuel retailers are currently enjoying substantial marketing margins on petrol and diesel, driven by low crude oil prices. Brokerages are recommending buy ratings for oil marketing companies like BPCL and IOCL, anticipating strong earnings for FY26.
Jefferies affirms preference for BPCL in OMC Pack, maintains ‘Buy’ with Rs 410 target
Jefferies maintains a ‘Buy’ on BPCL with a Rs 410 target, citing strong earnings visibility, favorable valuations, and supportive crude price trends. HPCL faces higher risks due to ongoing projects and duty sensitivity. IOCL also rated Buy. Key risks include rising crude, excise hikes, and large new energy capex.
Hedge funds flip on solar and start betting against oil
Hedge funds are shifting their energy strategies, moving away from shorting oil stocks, a dominant position since 2021, and reducing short bets against solar stocks. This reversal is driven by concerns about oil supply and demand, coupled with optimism for clean energy. Economic slowdown fears and rising oil inventories contribute to skepticism towards the oil sector, influencing investment decisions.
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