Latest news with #market outlook
Zawya
12-08-2025
- Business
- Zawya
OPEC lifts 2026 oil demand view and trims supply growth from rivals
OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per day in 2026, OPEC said, down from last month's forecast of 730,000 bpd. The outlook for higher demand and a drop in supply growth from outside OPEC+, which groups OPEC with Russia and other allies, would make it easier for OPEC+ to proceed with its plan to pump more barrels to regain market share after years of cuts aimed at supporting the market. The report also showed that in July, OPEC+ raised crude output by 335,000 bpd, a further increase reflecting its decisions this year to increase output quotas. ( Editing by Kirsten Donovan)
Yahoo
28-07-2025
- Business
- Yahoo
Oppenheimer Lifts S&P 500 Target to Call Third Year of 20% Gains
(Bloomberg) — Progress in trade negotiations will take the S&P 500 (^GSPC) to a third consecutive year of 20% gains, according to Oppenheimer Asset Management, a feat unseen since the late 1990s. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Budapest's Most Historic Site Gets a Controversial Rebuild Trump Administration Sues NYC Over Sanctuary City Policy Chief investment strategist John Stoltzfus raised his year-end target for the US benchmark to 7,100 points from 5,950, the highest among a panel of strategists tracked by Bloomberg. The new forecast implies an 11% upside from Friday's close. 'Progress on trade negotiations removes an uncertainty that had weighed on our market outlook,' Stoltzfus wrote in a note. He also lifted his 2025 earnings estimate for S&P 500 firms to $275 per share, 3% higher than the average analyst forecast. He reinstated his previous price target after cutting it in April post a negative market reaction to so-called 'Liberation Day.' Meanwhile, Morgan Stanley strategists led by Michael Wilson reiterated that the bull case for the S&P 500 is solidifying. US stocks have rallied to record highs as the US administration struck a series of trade deals ahead of the Aug. 1 deadline, including with Japan and the European Union, setting a broad 15% duty on imports. Several exporters in Asia, including Indonesia and the Philippines, have negotiated reciprocal rates between 15% to 20%. Washington's talks also continue with a number of countries including Switzerland, South Korea and Taiwan. Meanwhile, the US and China are expected to extend their tariff truce by another three months. Oppenheimer's new profit estimates imply further valuation expansion for the benchmark to 25.8 times forward price-to-earnings ratio, compared with 22.5 currently. The strategists noted that corporate revenue and earnings growth in the past two quarters surprised to the upside, while results for the earnings season currently underway are showing 84% of companies are exceeding analyst consensus expectations. —With assistance from Jessica Menton. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Dude! They Killed Colbert! ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
