The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

1010 GMT - Only about half of the pledged OPEC+ supply increase is expected to reach the market, analysts at DNB Carnegie say. The cartel and its allies agreed to a 137,000-barrel-a-day output hike for November, an overall "cautious approach" that mirrors October's production levels. That brings the theoretical cumulative unwind to 274,000 barrels a day over the two-month period. However, "we expect actual barrels to market to continue to underperform headline production quota increases," DNB analysts say. "Saudi, UAE, and Kuwait together hold 46% of the production quota increase for November." In early afternoon trade, Brent crude is up 1.7% to $65.65 a barrel, while WTI rises 1.8% to $61.99 a barrel. (giulia.petroni@wsj.com)

0852 GMT - Banks and infrastructure shares lead the declines among French stocks, after French Prime Minister Sebastien Lecornu resigned after only one month in office. Societe Generale shares fall 6.5%, while BNP Paribas and Credit Agricole lose 5.6% and 5.4%, respectively. Meanwhile, construction companies Vinci and Bouygues drop 3.6% and 4.0%, respectively. Resource-management company Veolia Environment dips 4.5%. (nina.kienle@wsj.com)

0749 GMT - Oil prices rise in early trade after OPEC+ agreed to a more modest-than-expected increase in monthly output for November. The group of oil-producing nations is set to boost production by 137,000 barrels a day next month, the same as in October. Brent crude and WTI are both up 1.4% to $65.41 and $61.72 a barrel, respectively, after rising more than 1.5% earlier. "Once again, the actual volumes coming on the market will be substantially smaller than the headline number, as only Saudi Arabia has sizable spare capacity at this stage," says Helima Croft, head of commodity strategy at RBC Capital Markets. Prices are also bolstered by a high geopolitical risk premium as intensifying attacks on Russia energy infrastructure threaten to disrupt global flows. However, further gains are capped by expectations of increasing supply, weakening demand, and a ramp-up in refinery maintenance. (giulia.petroni@wsj.com)

0746 GMT - European oil companies rise in opening trade as oil prices tick up after the production increase from Opec+ countries was less than feared. Oil prices have been under pressure on a cloudy global economic picture and concerns of a supply glut as Opec+ countries increase output. Over the weekend the group said it would increase output by 137,000 barrels a day in November, the same as in October. Brent crude trades up 1.53% at $65.52 a barrel while WTI rises 1.63% at $61.87 a barrel. London's BP rises 1.4% while Shell is up 0.8%. Spain's Repsol rises 1.3% and Italy's Eni is up 0.9%. France's TotalEnergies ticks up 0.4%. (adam.whittaker@wsj.com)

0647 GMT - Singapore's offshore and marine sector is likely experiencing solid repair demand, CGS International analysts say in a research report. Shipyard utilization has been strong for Marco Polo Marine and Pacific Radiance, the analysts note. The limited newbuilding of ships and older vessels' extended service life are also driving up repair needs. At investor meetings, Marco Polo Marine highlighted areas including its busy shipyard operations and progress on offshore-wind strategy, while Pacific Radiance emphasized strong fleet utilization and potential for higher charter rates from 2026. The brokerage, which has add ratings on both, raises Marco Polo Marine's target price to S$0.10 from S$0.08 and Pacific Radiance's to S$0.14 from S$0.09. The stocks trade at S$0.078 and S$0.106, respectively. (ronnie.harui@wsj.com)

0534 GMT - PTT Exploration and Production may benefit from its recent acquisition of a 50% stake in Block A-18 of natural gas resource Malaysia-Thailand Joint Development Area, Maybank Securities (Thailand)'s Chak Reungsinpinya says in a note. The brokerage raises its 2025-2029 volume growth forecasts for the Thai petroleum exploration and production company by 1.4%-3.3% to reflect this acquisition. PTTEP's 3Q normalized profit is projected to grow 5% on quarter thanks to the acquisition, the analyst estimates. The brokerage slightly raises the stock's target price to THB133.00 from THB132.00 with an unchanged buy rating. Shares are 0.9% higher at THB115.00. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 06, 2025 06:10 ET (10:10 GMT)

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