Nov 2 (Reuters) – OPEC+ has decided to pause oil production hikes beyond December 2025, citing growing concerns about a potential global supply glut and weakening demand. The move aims to stabilize prices amid rising economic uncertainty and record U.S. output.
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Crude Oil Outlook: Can India Really Afford to Stop Buying Russian Oil?
Crude Oil prices stay under pressure as the US hints that India may stop buying Russian crude. Here’s how global politics and trade tensions could impact West Texas Intermediate (WTI) prices.
WTI Stabilizes at $62 as OPEC+ Pushes Back on Supply Hike Talk
West Texas Intermediate (WTI) crude futures on NYMEX managed to hold support near $62 in Wednesday’s Asian session after falling nearly 4.4% in the last two days. Prices found somerelief as OPEC+ dismissed speculation aboutmajor jump in oil production at its upcoming Sunday meeting.
Crude Oil prices fall 1% as Iraq resumes Kurdish exports
Crude Oil prices declined nearly 1% at the start of the trading week as the resumption of crude exports from Iraq’s Kurdistan region and expectations of another OPEC+ production increase heightened concerns about growing global supply.
WTI drifts lower to near $63.50 amid US demand concerns
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.60 during the early Asian trading hours on Thursday. The WTI edges lower as data showing an increase in US diesel stockpiles stoked worries about demand. However, the persistent geopolitical tensions might help limit the black gold’s losses.
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Crude Oil price today :WTI price bearish at European opening
Crude Oil price today :West Texas Intermediate (WTI) Oil price falls on Thursday, early inthe European session. WTI trades at $63.26 per barrel, down from Wednesday closeat $63.55.