Why OPEC+ is accelerating oil production as prices are tanking and tariffs hammer markets [CNBC]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: CNBC
Markets were therefore stunned when OPEC+ chose not only to go ahead with its previously held plans to increase oil production, but also to nearly triple the expected increase figure. The Phillips 66 Company's Los Angeles Refinery in California. The oil price outlook is being hit with more bearish forecasts on the back of U.S. President Donald Trump's sweeping and market-hammering tariff announcements. Businesses and investors worry that a trade war and lower global growth lies ahead. Goldman Sachs on Thursday reduced its December 2025 forecasts for global and U.S. benchmarks Brent crude and WTI by $5 to $66 and $62 a barrel, respectively, “because the two key downside risks we have flagged are realizing, namely tariff escalation and somewhat higher OPEC+ supply.” The bank also cut its forecasts for the oil benchmarks in 2025 and 2026, adding that “we no longer forecast a price range, because price volatility is likely to stay elevated on higher recession risk.” Analysts at S
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News
- Phillips 66 (NYSE:PSX) had its price target raised by analysts at Mizuho from $145.00 to $150.00. They now have a "neutral" rating on the stock.MarketBeat
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- Phillips 66 (NYSE:PSX) had its price target raised by analysts at Wolfe Research from $158.00 to $160.00. They now have an "outperform" rating on the stock.MarketBeat
- Is Phillips 66 Stock Still Attractive After Its Strong Multi Year Price Surge? [Yahoo! Finance]Yahoo! Finance
PSX
Earnings
- 10/29/25 - Beat
PSX
Sec Filings
- 12/11/25 - Form 4
- 12/11/25 - Form 4
- 12/11/25 - Form 4
- PSX's page on the SEC website