OPEC PRODUCTION
Oil gains despite OPEC+ planning to boost output
Despite OPEC+'s planned output hikes, oil prices remain surprisingly resilient, trading near $67 a barrel. Analysts attribute this to China's aggressive stockpiling and OPEC's actual output lagging behind targets, preventing the anticipated 'oil glut' from materializing visibly. Doubts persist about the glut narrative until verifiable stock increases occur, even with projected surpluses.
US stock futures edge higher today: Dow, S&P 500, Nasdaq start the week in green as Wall Street bets on Fed cut and key inflation test
US stock futures edged higher today as Dow, S&P 500 and Nasdaq pointed to a green start for the week. Traders are betting on a September Fed rate cut after a weaker-than-expected jobs report, while gold hovered near $3,600 and treasury yields fell ahead of key inflation data.
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.
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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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.
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.
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.
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.
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.
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.
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.
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'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.
US stock market futures dip — Dow, S&P 500, Nasdaq in holding pattern ahead of the PCE inflation report — top gainers, losers, gold and oil trends today
U.S. stock futures slipped on Friday as investors turned cautious ahead of the crucial PCE inflation report, a release that could shape the Federal Reserve’s next rate move. With Wall Street fresh off record highs, the market is pausing to reassess risk as tech earnings disappoint and traders weigh the chances of a September rate cut.
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.
Private Chinese firm producing oil in Venezuela under rare 20-year pact, source says
China Concord Resources Corporation has started developing two oilfields in Venezuela. The company plans to invest over one billion dollars. The aim is to produce 60,000 barrels of crude oil daily by the end of 2026. This project marks a significant investment by a private Chinese firm. It is happening despite international sanctions on Venezuela.
Why oil price smile could leave traders in tears
A peculiar "smile" has emerged in the oil futures market, with backwardation defying expectations of a significant supply glut through 2026. Despite forecasts from major agencies predicting oversupply, the forward curve indicates a tightening market, potentially driven by expectations of OPEC+ intervention or geopolitical uncertainties.
Crude imports slip as demand stagnates, raising concerns for global markets
India's crude oil imports are declining due to stagnant demand both domestically and internationally. This raises concerns about India's role as a key driver of global oil demand. Crude imports fell by 0.6% from April to July. Product imports also experienced a decrease of 1.5%. Weak domestic fuel consumption is contributing to this slowdown.
Crude softening, Fed cuts could ignite Wall Street rally: Peter McGuire
Peter McGuire expects crude prices to soften through 2025, with WTI slipping into the $50s and Brent below $60, aided by higher US production and OPEC+ dynamics. Lower oil costs may ease inflation and support consumers, while potential Fed rate cuts could further fuel Wall Street’s rally into year-end.
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