Woodside Shares Slide 3.6% Amid Oil Price Plunge
Woodside Energy Group Ltd (ASX:WDS) shares declined by about 3.6% to AUD 31.20 on July 27, 2026, as oil prices plummeted. The energy sector fell sharply with Brent crude dropping 4.9% to USD 92.02 a barrel and West Texas Intermediate falling 5.1% to USD 84.74.
The decline in oil prices overshadowed Woodside's growth plans, including the Scarborough Energy Project, which is 96% complete and on track for its first LNG cargo in the fourth quarter of 2026. This project will process gas through Pluto Train 2, creating a significant new supply source.
Woodside produced 45.2 million barrels of oil equivalent in the first quarter of 2026, with reliability averaging 99% across several operations. However, production alone does not determine profitability, and other factors such as realised prices, unit costs, maintenance, and contract structures also play a crucial role.