OPEC+ OUTPUT INCREASE WILL LEAD TO OVERSUPPLIED MARKET
The gradual increase of OPEC+ production will lead to a significantly oversupplied market and materially lower prices next year, according to DNB Markets. The cartel and its allies are expected to proceed with their plans to start unwinding voluntary output curbs starting from December despite weakening prices. "In that scenario, we see the Brent oil price for 2025 in the $60-$70 a barrel range, starting the year in the high end and ending the year in the low end of the range," DNB's Helge Andre Martinsen and Tobias Ingebrigtsen say. Brent crude currently trades around $72 a barrel, while WTI is at around $69 a barrel.
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The gradual increase of OPEC+ production will lead to a significantly oversupplied market and materially lower prices next year, according to DNB Markets. The cartel and its allies are expected to proceed with their plans to start unwinding voluntary output curbs starting from December despite weakening prices. "In that scenario, we see the Brent oil price for 2025 in the $60-$70 a barrel range, starting the year in the high end and ending the year in the low end of the range," DNB's Helge Andre Martinsen and Tobias Ingebrigtsen say. Brent crude currently trades around $72 a barrel, while WTI is at around $69 a barrel.
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RUSSIA’S NOVAK, IN REPLY TO QUESTION ON OPEC+ PLANS TO START PHASING OUT OIL PRODUCTION CUTS FROM DECEMBER, TELLS REUTERS: THERE HAVE BEEN NO CHANGES TO THE PLANS
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#Upgrades - Sep 26, 2024
$BILI: Goldman Sachs Upgrades to Buy from Neutral - PT $22.60
$SBUX: Bernstein Upgrades to Outperform from Market Perform - PT $115 (from $92)
$NYCB: Barclays Upgrades to Overweight from Equal Weight - PT $14
$MD: Jefferies Upgrades to Buy from Hold - PT $14 (from $8)
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$BILI: Goldman Sachs Upgrades to Buy from Neutral - PT $22.60
$SBUX: Bernstein Upgrades to Outperform from Market Perform - PT $115 (from $92)
$NYCB: Barclays Upgrades to Overweight from Equal Weight - PT $14
$MD: Jefferies Upgrades to Buy from Hold - PT $14 (from $8)
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#Downgrades - Sep 26, 2024
$NTRS: Goldman Sachs Downgrades to Sell from Neutral - PT $82 (from $84)
$AMP: Goldman Sachs Downgrades to Neutral from Buy - PT $476
$RLJ: Wolfe Research Downgrades to Peerperform from Outperform
$PK: Wolfe Research Downgrades to Peerperform from Outperform
$GPN: CFRA Downgrades to Hold from Buy
$JWN: KeyBanc Downgrades to Sector Weight from Overweight
$SMAR: UBS Downgrades to Neutral from Buy - PT $56.50 (from $61)
$SONO: Morgan Stanley Downgrades to Underweight from Overweight - PT $11 (from $25)
$TNL: Barclays Downgrades to Underweight from Equalweight - PT $40 (from $46)
$GEHC: UBS Downgrades to Sell from Neutral - PT $74 (from $84)
$REG: Deutsche Bank Downgrades to Hold from Buy - PT $75 (from $70)
$HSY: Jefferies Downgrades to Underperform from Hold - PT $163 (from $184)
$FRO: SEB Equities Downgrades to Sell from Buy - PT $18.92
$RNW: Morgan Stanley Downgrades to Equalweight from Overweight - PT $7.31 (from $7.43)
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$NTRS: Goldman Sachs Downgrades to Sell from Neutral - PT $82 (from $84)
$AMP: Goldman Sachs Downgrades to Neutral from Buy - PT $476
$RLJ: Wolfe Research Downgrades to Peerperform from Outperform
$PK: Wolfe Research Downgrades to Peerperform from Outperform
$GPN: CFRA Downgrades to Hold from Buy
$JWN: KeyBanc Downgrades to Sector Weight from Overweight
$SMAR: UBS Downgrades to Neutral from Buy - PT $56.50 (from $61)
$SONO: Morgan Stanley Downgrades to Underweight from Overweight - PT $11 (from $25)
$TNL: Barclays Downgrades to Underweight from Equalweight - PT $40 (from $46)
$GEHC: UBS Downgrades to Sell from Neutral - PT $74 (from $84)
$REG: Deutsche Bank Downgrades to Hold from Buy - PT $75 (from $70)
$HSY: Jefferies Downgrades to Underperform from Hold - PT $163 (from $184)
$FRO: SEB Equities Downgrades to Sell from Buy - PT $18.92
$RNW: Morgan Stanley Downgrades to Equalweight from Overweight - PT $7.31 (from $7.43)
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RUSSIA'S PUTIN: BRICS COUNTRIES WILL SEE GROWTH UNLIKE EUROPE AND NORTH AMERICA
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AIR FRANCE TO ROLL OUT STARLINK SERVICE STARTING IN 2025
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SPOT SILVER HITS HIGHEST SINCE DECEMBER 2012 AT $32.53 PER OUNCE
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$TSLA - WOLFE RESEARCH COMMENTS ON TESLA ROBOTAXI
"While possibly sizable, real value is likely still yrs away (with high costs NT). Ultimately, investors need to gain confidence that TSLA is making measurable progress (rapidly increasing miles/intervention) & is building the right infrastructure to reach full autonomy. It will be hard to prove at this event, but if TSLA gives investors a roadmap for AV tech development, timeline for deployment, and color on the business model, it might be enough as a starting point. There is also a chance TSLA unveils its affordable new consumer vehicle, with promised SOP in 2025, which would be a positive surprise for investors."
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"While possibly sizable, real value is likely still yrs away (with high costs NT). Ultimately, investors need to gain confidence that TSLA is making measurable progress (rapidly increasing miles/intervention) & is building the right infrastructure to reach full autonomy. It will be hard to prove at this event, but if TSLA gives investors a roadmap for AV tech development, timeline for deployment, and color on the business model, it might be enough as a starting point. There is also a chance TSLA unveils its affordable new consumer vehicle, with promised SOP in 2025, which would be a positive surprise for investors."
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CHINA'S SECURITIES REGULATOR: WILL ENCOURAGE FIRMS TO REPURCHASE SHARES
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COPPER EXTENDS GAIN, HITS $10,000/TON FOR FIRST TIME SINCE JULY
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SAUDI ARABIA READY TO ABANDON $100 CRUDE TARGET TO TAKE BACK MARKET SHARE
Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking.
https://t.co/VBphfd49UE
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Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking.
https://t.co/VBphfd49UE
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GENSLER: CRYPTO HAS CHALLENGE WITH SO MANY FRAUDSTERS IN FIELD
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RUSSIA TO PREPARE LIST OF GOODS FOR POSSIBLE EXPORT CURBS: IFX
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$BTDR - BITDEER COMPLETES TESTING OF ITS LATEST SEAL02 BITCOIN MINING CHIP
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BLINKEN SAYS PUTIN'S COMMENTS ON NUCLEAR THREAT "TOTALLY IRRESPONSIBLE" -MSNBC INTERVIEW
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REDFIN REPORTS BUYERS ARE COMING BACK: MORTGAGE DEMAND SHOOTS UP, HOME TOURS HIT HIGHEST LEVEL SINCE MAY
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SOUND OF BLAST, SMOKE SEEN IN BEIRUT'S SOUTHERN SUBURBS
ISRAEL'S MILITARY SAYS IT CARRIED OUT A PRECISE STRIKE IN BEIRUT
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ISRAEL'S MILITARY SAYS IT CARRIED OUT A PRECISE STRIKE IN BEIRUT
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