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.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..