OPEC OIL OUTPUT INCREASE
Oversold bounce won’t last, softer oil prices ahead: Peter McGuire
OPEC+ announced a fresh output hike, lifting Brent crude prices briefly before experts cautioned against a sustained rally. XM Australia’s Peter McGuire expects softer pricing, projecting crude in the high 50s within weeks. Russia’s compliance adds supply, raising concerns of a potential glut by mid-Q4, easing consumer inflation pressures.
European shares rise ahead of crucial French no-confidence vote
European shares edged higher on Monday in a buoyant start to an event-filled week that is likely to be dominated by political uncertainty in France, which is all but certain to start looking for its fifth prime minister in three years.
India's oil-demand growth set to outpace China, says Trafigura Group
India's oil demand is expected to surpass China's this year. This excludes China's strategic stockpiling. Urbanization and rising incomes are driving India's growth. China's crude consumption is slowing, except in petrochemicals. China's stockpiling supports global crude prices. Experts question if future demand can absorb increasing oil supply.
S&P Global expects dated Brent crude to hit $55 per barrel by year-end
Dated Brent crude prices are likely to fall to around $55 per barrel by year-end, an S&P Global executive said at the Asia Pacific Petroleum Conference on Monday.
China oil stockpiling helps offset global surplus, S&P Global says
China, the world's leading oil importer, has significantly increased its crude oil stockpiles this year, reaching a multi-year high. This aggressive stockpiling, estimated at 530,000 barrels per day, has helped absorb a global surplus created by increased OPEC+ production. China's current onshore crude oil inventories stand at approximately 1.4 billion barrels, exceeding global oil demand growth.
S&P Global expects dated Brent crude to hit $55 per barrel by year-end
S&P Global anticipates a drop in Dated Brent crude prices. The price could hit $55 a barrel by the end of the year. OPEC's decision to gradually increase output influences this forecast. Ample supply and continued Russian oil flow contribute to the expected price decline. Ample stock and commercial inventory may further lower the price. Contango situation indicates comfortable supplies.
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GIFT Nifty up 80 points; here's the trading setup for today's session
Equity indices remained flat, buoyed by positive global cues and auto stock purchases. Despite global trade uncertainties, a simplified GST framework and strong domestic macros are expected to support market momentum. Technically, the Nifty may rise towards 25,150-25,250 if it decisively surpasses 24,750, with support at 24,500.
Oil prices climb as OPEC+ agrees to raise output at slower pace from October
Oil prices saw a slight increase in early trading following OPEC+'s decision to moderately raise output from October, a response to anticipated weaker global demand. This decision, while surprising given potential winter oversupply, contrasts with larger previous monthly increases. Market sentiment is also influenced by potential U.S. sanctions on Russia and ongoing geopolitical tensions, including Russia's intensified attacks on Ukraine.
OPEC+ agrees on output boost from October
OPEC+ decided to increase oil supply. They will add 137,000 barrels a day from October. This is part of a larger plan to release 1.65 million barrels a day. The decision shows optimism about the oil market. The group aims to regain market share. The next meeting is scheduled for October 5.
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 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.
Oil & Gas exploration tax set to be increased to 18%
The higher tax will hit all oil and gas companies, with explorers like ONGC, Oil India, Vedanta, and Reliance Industries most affected. The proposed slab will apply to all exploration and production (E&P) contracts nationwide. Oil and gas explorers rely on a wide range of costly goods and support services for drilling and production.
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.
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.
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.
India cuts fossil electricity output as clean generation hits new peak
India's clean electricity generation has surged by 20% in the first half of 2025, enabling a 4% reduction in fossil fuel-fired generation. This growth, driven by wind, solar, hydro, and nuclear power, is expected to push clean energy's share of the generation mix above 30% in the coming months, potentially peaking fossil fuel reliance.
Manufacturing activity expands to 17-year high in August
India's manufacturing sector experienced a significant surge in August, reaching a 17.5-year high with a PMI of 59.3, fueled by robust growth in production and new orders. Domestic demand cushioned the impact of increased US tariffs on Indian goods, while manufacturers increased input buying and hiring in response to rising output requirements.
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.
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