OPEC+ agreed to hike July oil output by 411,000 barrels per day (bpd) on Saturday, the same as in May and June, after the group of oil-producing countries looks to grab back market share and punish over-producing members. According to Reuters, eight OPEC+ members of the group are unwinding 2.2 million bpd in voluntary curbs…
OPEC members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said. An output hike of 411,000 barrels a day for July — triple the amount initially planned — is among options under discussion, although no final agreement has yet…
Oil prices settled nearly 2% higher on Friday and notched their first weekly gains since mid-April as a U.S. trade deal with the United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude futures rose $1.07, or 1.7%, to settle at $63.91 a barrel, while U.S. West Texas…
Stocks to buy: All three oil market companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) – are in the limelight amid weakness in crude oil prices and quarterly earnings for the fourth quarter of the financial year 2024-25 (Q4 FY25). The question remains which PSU oil stock looks…
Stocks to buy: Crude oil prices have been on a slippery slope for most of 2025, shedding almost 20% on a year-to-date (YTD) basis, with Brent crude prices briefly slipping below the $60/barrel mark on Monday. While the crude oil prices rebounded to $61 level today, May 6, they have tumbled almost 10% over the…
Stock Market Today: Indian paint stocks, including Asian Paints, Berger Paints, and Kansai Nerolac, traded higher in Monday’s session (May 5), reflecting the broader positive momentum in the Indian stock market after crude oil prices dropped sharply amid rising global supplies. Falling crude oil prices are a boon for India, which imports around 85% of…
IOCL Q4 Preview: Indian Oil Corporation Ltd (IOCL), the state-owned energy major, is set to announce its fourth-quarter earnings for FY25 on Wednesday, April 30. Analysts are anticipating a subdued performance, largely due to weaker marketing margins, under recoveries in LPG, and pressure on refining spreads. Domestic brokerage Nuvama Institutional Equities expects IOCL’s EBITDA to…
Oil prices edged higher on Friday but posted a weekly decline, under pressure from market expectations of oversupply and uncertainty around tariff talks between the U.S. and China. Brent crude futures settled 32 cents higher at $66.87 a barrel, taking losses to 1.6% over the week. U.S. West Texas Intermediate crude gained 23 cents to…
Stock Market today: Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) saw their share prices rise up to ₹3.7% during the Intraday trades on Monday. The analysts reports indicate that Brent crude prices will remain below $70 a barrel and hence the same will be supportive for the…
Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports, which continued to elevate supply concerns. Brent crude futures settled $2.11, or 3.2%, higher to $67.96 a barrel, and U.S. West Texas…