State Street SPDR S&P Oil & Gas Exploration & Production ETF

XOP

Market cap $1.79B

WTI edges higher as traders assess peace talks, rising supply, weak oil demand, and OPEC policy, with analysis pointing to a bearish weekly oil outlook.

OPEC+ is likely to leave oil output levels for the first quarter of 2026 unchanged at its meetings on Sunday, three delegates from the group said on Saturday, moderating a push to regain market share amid fears of a looming supply glut.

Crude Oil Futures slip after a weak Friday close as rising Inventory, soft Oil Demand, and OPEC Production risks weigh on the broader Oil Outlook.

U.S. oil production rose to a record high in September, data from the Energy Information Administration (EIA) on Friday showed, despite oversupply worries.

Hungary's Orban met Russia's Putin in Moscow to discuss energy and Ukraine peace deal.

Crude oil saw a mild bounce in thin Friday trading, but both WTI and Brent remain stuck in broader downtrends. Key resistance levels sit overhead, keeping the market in a fade-the-rally posture unless major breakouts occur.

Crude oil steadies after the CME outage, but OPEC+ expectations and rising supply forecasts keep the oil outlook cautious for traders watching key levels.

Oil prices remain on track for their largest yearly loss since the pandemic. They may be near a short-term bottom, however, with the lower prices likely to boost demand and temper global production.

Oil prices are projected to remain under pressure in 2026, as swelling supplies eclipse modest demand growth, while geopolitical risks could cap deeper losses, a Reuters poll showed on Friday.

Saudi Arabia, the world's biggest oil exporter, is expected to lower its January crude price for Asian buyers for a second month to its lowest level for five years, tracking the decline in spot benchmark prices, sources said on Friday.