Sydney, Jan 31, 2026, 17:12 AEDT — The market has closed.
- Shares of Woodside Energy Group Ltd climbed on Friday, boosted by stronger crude oil prices.
- Investors face a tough call: Scarborough’s project delivery versus a volatile oil outlook for 2026.
Shares of Woodside Energy Group Ltd (WDS.AX) ended Friday at A$25.37, marking a 0.8% gain from the previous close. The Australian market was closed on Saturday. (Investing)
The stock’s recent strength hinges on two key factors: a rise in oil prices and new details about Scarborough, its upcoming major Australian growth venture. Since Woodside’s cash flow depends heavily on oil and LNG (liquefied natural gas) prices, shifts in crude tend to impact its share price fast.
Crude takes center stage again as the next session begins, with investors zeroing in on the near-term calendar. Woodside has set its annual report and investor briefing for Feb. 24.
Oil topped $70 a barrel late January as traders factored in geopolitical risks. OPEC+ is set to meet Sunday, with delegates hinting the group will maintain its March output freeze. (Reuters)
A Reuters poll conducted this week among economists and analysts still forecasts a market surplus in 2026 despite ongoing geopolitical tensions. Norbert Ruecker, head of economics & next generation research at Julius Baer, said, “The oil market appears to be in a lasting surplus.” (Reuters)
Woodside reported that the floating production unit for the Scarborough project, an offshore gas processing facility, has safely reached the field—a key milestone. The project stands 94% complete, with first LNG cargo still scheduled for the fourth quarter of 2026, the company confirmed. (Woodside)
The stock has climbed roughly 5% since closing on January 23, buoyed by a string of daily gains in the last week of the month. (Intelligent Investor)
That surge tightens the margin for mistakes. A dip in geopolitical tensions might ease crude prices, and the widely anticipated 2026 oversupply could drag down oil-related stocks if prices fall closer to the $60 range.
Execution remains a key challenge. Scarborough still faces hook-up and commissioning tasks; any delays or rising costs could disappoint investors eager for fresh volume.
Woodside investors will be watching Sunday’s OPEC+ meeting and early-week oil moves closely. The next big company event arrives on Feb. 24, when Woodside is set to release its full-year results along with updated guidance.
