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

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..