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“Oil Stocks Plunge as OPEC+ Considers Early Output Hike, Market Braces for Impact”✅✅✅

Energy markets turned bearish on Wednesday as reports surfaced that OPEC+ is considering a production hike of 1.65 million barrels per day (bpd), a move that would reverse last year’s supply cuts far earlier than anticipated. Sources suggest the group could finalize the decision at its meeting scheduled for this weekend, with discussions hinting at even larger output increases if global demand remains steady.

The news sent oil and energy stocks sliding across the board. ConocoPhillips (COP) dropped 3.96% to $95.07, Phillips 66 (PSX) fell 2.41% to $130.62, APA Corporation (APA) plunged 4.34% to $22.81, and Diamondback Energy (FANG) lost 4.43% to $143.22. Other major players, including Devon Energy (DVN) at $35.21 (-3.34%), Halliburton (HAL) at $21.86 (-2.95%), and EOG Resources (EOG) at $121.52 (-3.63%), also took heavy hits.

Industry analysts warn that an early ramp-up in production could pressure Brent crude and WTI prices, which have traded in a relatively stable range of $82–$85 per barrel in recent weeks. The strategy, reportedly driven by Saudi Arabia and Russia, aims to safeguard their global market share amid concerns over slowing demand growth in China and Europe.

For U.S. shale producers, the timing could be challenging. Rising production costs, coupled with softening demand signals and narrowing profit margins, may force smaller operators to scale back output or delay new projects.

If OPEC+ follows through with its plans, traders anticipate a bearish short-term outlook for oil prices, potentially dipping below $80 per barrel, while volatility in energy stocks could persist into next week.