KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Key Takeaway: Global oil supply will exceed demand in 2025 , with an estimated surplus of over one million barrels per day (bpd) , as production outpaces consumption, the International Energy Agency (IEA) reports. According to the IEA, rising production from non-Opec+ nations, led by the US, Canada, Guyana, and Argentina , is expected to increase by 1.5 million bpd, surpassing the forecast demand growth of 990,000 bpd in 2025. The surplus poses a challenge for Opec+ as it considers raising output amidst softer oil prices. Key Factors Affecting Demand: China’s economic slowdown and a shift toward electric vehicles have dampened oil demand growth, a shift the IEA attributes to China’s reduced role in driving global oil consumption. The rapid adoption of clean energy technologies is further displacing oil use in transportation and power generation. The IEA adjusted its 2024 demand growth forecast slightly higher to 920,000 bpd, reflecting unexpected gasoil demand. However, both the 2