Equinor ASA's stock saw a modest uptick in after-hours trading, buoyed by positive developments in the energy sector. The announcement that OPEC+ will delay the return of 2.2 million barrels per day of voluntary production cuts until April 2025, instead of January, has provided a supportive backdrop for energy stocks. This decision aligns with market expectations and suggests a more gradual increase in oil supply, which could help stabilize prices and benefit oil producers like Equinor.
Additionally, the broader energy sector experienced gains, with the NYSE Energy Sector Index rising 0.9% and the Energy Select Sector SPDR Fund adding 0.7%. This sector-wide uplift likely contributed to Equinor's positive movement, as investors responded to the favorable market conditions and the strategic joint venture with Shell to form the UK's largest independent oil and gas producer.
Equinor's stock is currently trading at $24.13 in after-hours trading, reflecting a slight increase of 0.04% from the close price of $24.12 on December 5, 2024.