Sydney, Feb 2, 2026, 17:18 AEDT — The market has closed.
Woodside Energy Group Ltd (ASX:WDS) shares slipped 1.8% to close at A$24.91 on Monday, hitting a low of A$24.79 during the session. (Intelligent Investor)
Oil prices tumbled sharply, dragging energy stocks down. Brent crude, the global benchmark, dropped 4.8% to $66.02 a barrel by 0528 GMT, while U.S. West Texas Intermediate plunged almost 5% to $61.98. The slide followed signals from Donald Trump suggesting a thaw in tensions with Iran, alongside OPEC+ agreeing to hold output steady in March. Tony Sycamore at IG noted the market is “easing the geopolitical risk premium built into the price during last week’s rally and prompting a bout of profit-taking.” (Reuters)
Woodside holders are eyeing the calendar as much as the stock moves. In its fourth-quarter report last week, the company forecasted 2026 production between 172 million and 186 million barrels of oil equivalent (boe). It also highlighted a major maintenance shutdown at Pluto LNG scheduled for the second quarter. Investors learned the 2025 annual report and briefing will come out on Feb. 24, with acting CEO Liz Westcott and CFO Graham Tiver leading a teleconference. Westcott noted, “We achieved record annual production of 198.8 million barrels of oil equivalent in 2025.” (ASX Announcements)
With the local market closed, the next signal will probably come from the overnight oil move and whether Monday’s selloff extends further. If weakness continues into a second day, oil-linked stocks could face more pressure, particularly if the U.S. dollar remains strong.
Woodside’s portfolio includes both LNG and liquids, with pricing tied to crude and regional gas benchmarks. This can provide some cushion in volatile markets, but it also means the stock reacts quickly to shifts in commodity prices.
But it can swing the other way. If crude steadies amid new geopolitical news, the stock could surge quickly. If oil remains sluggish, doubts will grow over cash flow as Woodside faces a year loaded with downtime and hefty project costs.
Investors are watching closely for shifts in tone on costs, capital spending, and execution risks tied to major projects. Even a slight delay or a higher capex figure can hit harder when commodity prices turn against the sector.
