Economic Events and Corporate Reports: Sunday, August 2, 2026 - OPEC+ Meeting on Oil Production, Berkshire Hathaway Report, and the Start of a New Trading Week

Economic Events and Corporate Reports: Sunday, August 2, 2026 - OPEC+ Meeting on Oil Production, Berkshire Hathaway Report, and the Start of a New Trading Week

Sunday, August 2, 2026, marks a rare weekend when global markets receive a significant price-setting signal. While exchanges are closed, today seven key OPEC+ countries will hold a virtual meeting to discuss oil production quotas for September—an event that will set the tone for Brent prices and the oil and gas sector as trading opens on Monday. Simultaneously, investors are analyzing the quarterly report from Berkshire Hathaway, traditionally released on the first weekend of August, and preparing for a busy week ahead: ISM indices, US labor market reports, and dozens of corporate releases from S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange are on the horizon. Let's review the key economic events and corporate reports of the day and the upcoming week.

OPEC+ Meeting: The Main Economic Event of the Day

The central event on Sunday is the online meeting of seven major OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. Ministers will evaluate the state of the global oil market and decide on production levels for September.

Key Scenarios for the Oil Market

1. Main Scenario: An increase in quotas by approximately 188,000 barrels per day represents the fifth consecutive step, completing the reversal of voluntary cuts of 1.65 million barrels introduced in 2023.
2. Signal of a Pause: A freeze on quotas may be discussed from October 2026 to January 2027, which would maintain around 2 million barrels per day in restrictions and support price levels.
3. Stringent Scenario: A hint at further production increases after September would intensify pressure on Brent prices and oil company stocks.

The outcomes of the meeting will directly impact the stocks of ExxonMobil, Chevron, Shell, TotalEnergies, as well as Rosneft, Lukoil, and Gazprom Neft on the Moscow Exchange. For the ruble and the budgets of exporting countries, the cartel’s decision is a key factor for August.

Oil and Geopolitics: The Background for the Cartel's Decision

The OPEC+ decision is made under unusual conditions. Exports via the Strait of Hormuz are gradually recovering after the conflict involving Iran, causing the actual output of several Middle Eastern producers to remain below allowed quotas. Therefore, an increase in targets on paper does not always translate into real barrels. An additional structural shift is the withdrawal of the UAE from OPEC after nearly six decades of membership, altering the balance of power within the alliance. In this configuration, even a formal increase in quotas could be accompanied by shortages in physical shipments in specific directions.

Berkshire Hathaway: Insights from the Q2 Report

The second story of the weekend is Berkshire Hathaway’s Q2 2026 report, which the holding traditionally discloses in early August, giving the market time for analysis before the exchanges open. The consensus estimates set revenue at about $95.3 billion and earnings per Class B share at approximately $5.24. Investors will focus on:

• the size of the cash cushion and the pace of share buybacks as indicators of management's attitude toward market valuations;
• the margin of the insurance business GEICO amid rising payouts and customer acquisition costs;
• the first quarters under Greg Abel's leadership and the integration of the acquisition of builder Taylor Morrison Home for $8.5 billion;
• the dynamics of insurance float, which has exceeded $176 billion.

Berkshire's shares are trailing behind the S&P 500 this year due to a shrinking "Buffett premium" and minimal exposure to the technology sector, so the reaction to the figures on Monday could be significant.

Asia: Signals from South Korea and Expectations for China's PMI

The trading statistics from South Korea for July, released recently, remain a key indicator of the state of global trade: the export dynamics of semiconductors from Samsung and SK Hynix set the tone for chipmaker stocks from TSMC to Nvidia and influence sentiment in the Nikkei 225 index. On Monday, August 3, the manufacturing PMI index for China from RatingDog (formerly Caixin) will be released—a private measure of the state of small and medium businesses in China, sensitive to US tariff policies. Weak data will heighten expectations for new stimulus measures from Beijing.

US Tariff Policy: An August Risk Factor

The trade agenda remains a source of volatility for global markets. Investors are closely monitoring the approach of August 19—the date when 50% tariffs on a wide range of Canadian goods will take effect, along with the ongoing 25% tariff on imports from Brazil. The escalation of trade restrictions supports inflationary expectations in the US and creates pressure on exporters in the Euro Stoxx 50, automotive manufacturers, and North American commodity chains.

Context of the Past Week: The Federal Reserve, Inflation, and Big Tech Earnings

The new week begins with strong inputs. American indices wrapped up July predominantly in the green: confident reports from Microsoft and Alphabet offset disappointing results from Apple and Meta, alongside softer inflation data and the Federal Reserve’s decision to maintain interest rates in the range of 3.50-3.75%. The drop in oil prices further supported risk appetite in the tech sector. In Russia, on August 1, a package of changes came into effect—from recalculating pensions for working retirees to electronic tax notifications—which is moderately positive for the consumer sector of the Moscow Exchange.

Corporate Reports of the Week: From Palantir to Disney

The Q2 earnings season in the US is reaching a new peak. Key releases for the week include:

• Monday, August 3: Palantir, Marriott International, Snap; in Russia—TGC-1 IFRS report for the first half of the year.
• Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify—before market open; AMD and Amgen—after market close.
• Wednesday, August 5: Walt Disney, Eli Lilly, Uber, Shopify, eBay; in Russia—Rostelecom IFRS report.
• Thursday, August 6: ConocoPhillips, Airbnb, Warner Bros. Discovery, DraftKings; in Russia—Unipro report.
• Friday, August 7: Take-Two Interactive, Under Armour, Wendy's.

Special attention should be given to the semiconductor sector: AMD's results and forecasts will serve as a litmus test for demand resilience in AI infrastructure.

Macro Calendar for the Week: ISM and US Employment Report

1. August 3—July ISM Manufacturing Index for the United States, China’s Manufacturing PMI.
2. August 4—JOLTS job openings and US trade balance for June.
3. August 5—ADP employment report and ISM Services Index.
4. August 6—Weekly jobless claims and Challenger job cuts data.
5. August 7—July US labor market report (Non-Farm Payrolls), a key release for expectations regarding the Federal Reserve's rate decisions.

What Investors Should Pay Attention To

Sunday, August 2, 2026, is a day for position setting ahead of market openings. First: the outcomes of the OPEC+ meeting—the decision on September quotas and any signals about a pause starting in October—will dictate the dynamics of oil, commodity currencies, and stocks in the oil and gas sector on Monday. Second: the Berkshire Hathaway report—the holding's cash position and tone of Greg Abel's comments are traditionally read as a barometer of conservative capital’s attitudes toward current S&P 500 valuations. Third: macro-statistics for the upcoming week—from China's PMI to Friday’s US employment report—which can shift expectations about the trajectory of the Federal Reserve's rate following July’s decision. A balanced control of commodity asset allocation, preparedness for volatility in semiconductor stocks around AMD's report, and attention to tariff news from Washington remain the basic strategy for the initial days of August.