Oil Prices Dip Amid Supply Forecasts and Chinese Stimulus Optimism

13 Dec 2024 CW Team

Oil prices edged lower as investors weighed ample supply projections against expectations of rising demand fueled by Chinese stimulus measures.

Brent crude futures slipped by Rs 8 to settle at Rs 73.33 a barrel, while U.S. West Texas Intermediate crude fell Rs 7 to Rs 69.95 a barrel.

The International Energy Agency (IEA) predicts non-OPEC+ countries, including the U.S., Canada, Guyana, Brazil, and Argentina, will increase supply by 1.5 million barrels per day (bpd) in 2025. In contrast, global demand is projected to grow by 1.1 million bpd, mostly in Asia, driven by China's recent economic measures.

Despite expectations of a tighter market next year, supply is likely to outpace demand growth, keeping prices in a stable range. “With a fairly comfortable balance, there’s little reason for prices to break out of this range for now,” said Warren Patterson, Head of Commodities Research at ING.

Both Brent and WTI benchmarks are poised for a weekly gain exceeding 3%, supported by potential supply disruptions from stricter sanctions on Russia and Iran, and hopes for stronger Chinese demand.

China, the world's largest oil importer, reported annual growth in crude imports for the first time in seven months this November, propelled by lower prices and stockpiling. The trend is expected to continue into early 2025 as refiners leverage discounted supplies from Saudi Arabia and rush to utilize import quotas.

Meanwhile, Goldman Sachs anticipates U.S. shale oil production to grow by 600,000 bpd by 2025, although growth may slow if Brent crude dips below $70 a barrel.

Investors remain focused on next week's Federal Reserve interest rate decision and its potential impact on the energy market.

Real Estate

29 Oct 2025

iWO(R)K

It is commonly believed that technology is the key differentiator between a smart and an ordinary workspace. While that is true on one level, it isn’t the whole truth. Conceptually, smartness as associated with an office has evolved from technological novelty to holistic sustainability, workplaces that not only perform but also inspire, explains Dikshu Kukreja, Managing Principal, CP Kukreja Architects. “A truly smart workplace is not simply a matter of embedding devices or automated systems; it is about creating an ecosystem that balances digital intelligence, ecological sensiti..

Bentley’s AI-Driven Infrastructure Vision

Kaushik Chakraborty, Senior Vice President, Asia Pacific & Japan, Bentley Systems, shares with PRATAP PADODE, Editor-in-Chief, CW, how Bentley is reshaping infrastructure. Through AI, model-centric workflows and innovation, technology is helping deliver projects faster, greener and more efficiently across regions.How does Bentley’s global strategy ensure its solutions meet diverse infrastructure needs?Bentley’s technology is designed to scale globally. Projects large and small – from a hotel in Udevo to a 350-km highway in Australia – demonstrate that technology is no bar..

Handling the Bottom Line

In a highly competitive construction environment, efficient material handling is “the silent engine of profitability”, to quote Vaibhav Kulkarni, General Manager Projects, JP Infra Realty. “It’s not just about moving materials from A to B but developing a strategy to minimise touchpoints, reduce waste and maximise spends.”Planning stageBefore investing in material, Kulkarni recommends designing the material flow. “Map the journey of major materials from the delivery point to their final placement,” he recommends. While doing this, “minimise double-handling and identif..