Asian stock markets presented a mixed picture on Thursday, suggesting investor caution quickly returned following a significant relief rally on Wall Street.
Risk assets staged a recovery yesterday amid growing hopes for a de-escalation in US-China trade tensions. President Trump also eased concerns he might fire Federal Reserve Chair Powell.
West Texas Intermediate (WTI) Oil price extends its rally for a second straight session, trading around $63.90 per barrel during Asian hours on Wednesday.
Gold prices surged to fresh highs amid concerns about the US Federal Reserve’s independence. Oil and other risk assets, however, are under pressure amid heightened global uncertainty.
These cuts are intended to offset the overproduction that has occurred beyond the agreed-upon quotas set by the organisation in previous months. The move signifies OPEC’s commitment to maintaining stability in the global oil market.
The GPIF — the world’s largest pension whale — just dropped a geopolitical bombshell, quietly removing China A-shares from its foreign equity benchmark.
The cartel now anticipates a demand increase of 1.3 million barrels per day (bpd) for 2025, down 150,000 bpd from its previous projection. Similarly, the 2026 forecast has been adjusted downward to 1.28 million bpd.
The group has revised its 2026 global oil demand growth estimates and expects the figure to hit 1.28 million barrels per day (mb/d), compared to the 1.45 mb/d projected earlier.
