>> GOOD MORNING. THIS IS HORIZONS MIDDLE EAST & AFRICA. OIL EARNINGS.ARAMCO EXPECTED TO REPORT THAT HIGHER OUTPUTS AND RECOVERING REFINING MARGINS IS OFFSETTING SOFTER PRICES WHILE INVESTORS ARE WAITING FOR MORE UPDATES ON THEIR DIVESTMENT PROGRAM. ELECTION DAY IN THE UNITED STATES PRESIDENT DONALD TRUMP ENDORSES ANDREW CUOMO FOR MAYOR AND THREATENED TO WITHHOLD FEDERAL FUNDING IN AN EFFORT TO PREVENT DEMOCRAT ZOHRAN MAMDANI FROM WINNING. RISK OFF.ASIAN STOCKS AND UNCERTAINTY. IT HAS JUST GONE 9:00 A. M.ACR ...

OPEC+ Strategy & Rationale - OPEC+ brought back 137,000 barrels a day to the market as expected but decided to hold off on further increases for the first three months of next year [1] - OPEC's rationale is based on monitoring the market and digesting customer demand [2] - The decision to hold off on further increases may be influenced by Russia's production capabilities due to sanctions on Rosneft and Lukoil [3][4] Market Dynamics & Oversupply Concerns - The market is moving towards an oversupplied state, despite OPEC+ increasing output since earlier this year [5] - Chinese buying, which previously helped absorb increased output, may slow down going into 2026 [6] - US output has remained strong despite WTI being in the low $60 range [7][12] Chinese Demand & Economic Factors - Analysts are watching refinery run rates and teapot purchases to determine if Chinese demand is faltering [8] - Industrial output from China needs to be monitored to assess the overall Chinese economy [9] - EV sales in China are strong, suggesting that long-term gasoline demand may not grow as it has in the past [10] - China's industrial and economic growth has not met expectations, and has not significantly pushed up oil demand [11]

EQUITY FUTURES HIGHER ON THE S&P FUTURES, YIELDS MARGINALLY HIGHER ON THE 10 YEAR AND CRUDE CONTINUING TO FALL. THE REAL QUESTION HERE WITH THE OVERSUPPLY, EARNINGS FROM OIL GIANTS ARE CROSSING AT THIS HOUR AND EXXON SHARES LOWER. CHEVRON RISING AFTER POSTING STRONG RESULTS, JOINING US NOW IS THE HEAD OF RESEARCH.DAN, THANK YOU FOR BEING HERE. I'M WONDERING WITH OIL GIANTS WHAT IT TELLS YOU ABOUT THE PATH OF PRODUCTION IN THE MONTHS AND YEARS TO COME. DAN: THE EARNINGS HELP US TO CHECK IN ON THE KEY ASSUMPT ...

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OPEC+ is unlikely to curb production increases until oil prices fall further, argues @JavierBlas #OOTT (via @opinion) https://t.co/MCXeznBUG5 ...

The US is tightening the screws on Russia, squarely at the heart of Russia's energy machine. It's part of a coordinated Western push to choke Moscow's war chest. And it comes as the European Union ratchets up pressure, too.Oil prices jumped after Washington announced new sanctions on Russia's biggest producers. A dramatic shift for President Donald Trump, who just last week was talking about meeting Vladimir Putin face to face. Until now, US strategy has focused on the G7 oil price cap, a way to drain the K ...

Global Oil Prices Rise 3.7% After Trump Slaps Sanctions On Russian Oil Firmshttps://t.co/7TGspVwrCh https://t.co/1F8kEWuBPc ...

Commodities are a big focus as Indian shares resume trading, with investors reacting to a jump in oil prices and a sharp gold and silver selloff. Read more on what could move markets today for free with your email https://t.co/UdTNwiqcEj ...

Market Trends & Oil Prices - Oil prices have been weak this year, benefiting American drivers with gasoline prices nearing $2 per gallon in some areas [1] - Citigroup expects oil prices to move around $60 per barrel on a Brent basis [4] - Unexpected US-India trade deal reports could involve a partial curtailment of Russian oil imports from India, impacting oil prices [5] OPEC Strategy & Production - OPEC has been adding barrels to the market but may switch its strategy at any time, potentially pausing or reversing production increases [2][6] - Over the next couple of months, OPEC is expected to continue adding around 140 thousand barrels per day [7] - Saudi Arabia is assumed to freeze production at 103 million barrels per day, and Russia will maintain production at around 101 to 102 million barrels per day [7] - The market is still long next year, though not as long as the IIA expects, suggesting OPEC should cut around 2 million barrels per day in mid-first quarter next year [8] Future Outlook & Investment - A longer-term supportive picture is anticipated, although a rocky path is expected before reaching that point [9] - China could provide some support, along with a reaction from lower shale production and potential USSPR intakes [10] - Lack of investment could lead to a great shortage of oil in a couple of years [9]

Industry Overview - The Zacks Transportation sector is facing challenges due to increased expenses, inflation-driven high interest rates, a decline in freight demand, and supply-chain issues [1][2] - Geopolitical uncertainties and tariff-related economic tensions are negatively impacting consumer sentiment and growth expectations [1] Economic Factors - Inflation concerns and risks of an economic slowdown are likely to increase market volatility [2] - Supply-chain disruptions are expected to keep costs elevated in the near future [2] Oil Prices Impact - A decrease in oil prices by 4.2% during the July-September 2025 period is anticipated to positively affect the profitability of transportation companies, as fuel costs are a major expense [3] Company Earnings Expectations - Investors are awaiting earnings results from Southwest Airlines Co. (LUV), Union Pacific Corporation (UNP), American Airlines Group Inc. (AAL), and Norfolk Southern Corporation (NSC), all scheduled for release this week [4] Southwest Airlines (LUV) - LUV is expected to report a 1.3% increase in passenger revenues compared to the third quarter of 2024 [6] - The Zacks Consensus Estimate for LUV's third-quarter 2025 revenues is $6.97 billion, reflecting a 1.44% year-over-year growth [7] - LUV's earnings estimate has been revised upward by over 100% in the past 60 days to 1 cent per share, but this represents a 93.33% decline from the previous year's actual [7][8] Union Pacific Corporation (UNP) - The Zacks Consensus Estimate for UNP's third-quarter 2025 revenues is $6.23 billion, indicating a 2.34% increase year-over-year [9] - Freight revenues are estimated at $5.86 billion, a 1.7% increase from the previous year, while other revenues are expected to decline by 3.6% [9] - The earnings estimate for UNP is $2.99 per share, reflecting an 8.73% increase from the year-ago actual [10][11] American Airlines Group Inc. (AAL) - AAL's loss estimate for the third quarter has widened to 27 cents per share, compared to a profit of 30 cents in the same quarter last year [12] - The Zacks Consensus Estimate for AAL's revenues is $13.63 billion, indicating a slight decline of 0.13% year-over-year [13] - AAL's earnings prediction does not suggest a likely earnings beat, with an Earnings ESP of -0.68% and a Zacks Rank of 3 [14] Norfolk Southern Corporation (NSC) - The earnings estimate for NSC has been revised downward by 4.50% to $3.18 per share, indicating a 2.15% decline from the previous year [15] - The revenue estimate for NSC is $3.09 billion, reflecting a 1.26% year-over-year growth [15] - E-commerce demand is expected to support shipment volumes, but challenges such as inflation, high interest rates, and weak freight demand may negatively impact performance [16][17]