- Oil gains 1.90% to $61.85 per barrel after OPEC+ maintained a moderate production increase for November at 137,000 barrels per day. The smaller-than-feared hike eased concerns about a large influx of crude onto the market.
- Rebound may be short-lived
- Oil gains 1.90% to $61.85 per barrel after OPEC+ maintained a moderate production increase for November at 137,000 barrels per day. The smaller-than-feared hike eased concerns about a large influx of crude onto the market.
- Rebound may be short-lived
Oil gains 1.90% to $61.85 per barrel after OPEC+ maintained a moderate production increase for November at 137,000 barrels per day. The smaller-than-feared hike eased concerns about a large influx of crude onto the market.
Both Brent and WTI are trading higher today, though both benchmarks remain lower on the week following earlier speculation about a bigger OPEC+ supply boost that had pushed prices toward four-month lows. The alliance — led by Saudi Arabia and Russia — said the decision reflects a stable economic environment and low inventories, adding that the situation will be reassessed at the next meeting on November 2.
Analysts, however, warn the rebound may be short-lived. They point to weaker demand in Q4 — driven by refinery maintenance, smaller product stock draws in U.S. data, and generally softer macro sentiment — while supply-side headwinds persist, including rising output from Venezuela, resumed Kurdish exports, and unsold Middle Eastern cargoes. According to Rystad Energy, the additional 137,000 barrels per day still adds to market oversupply, though some support comes from Chinese reserve purchases, geopolitical tensions, and trade frictions.
Paralysis in France: New Chapter of Political Turmoil
BREAKING: EU Retail Sales In Line with Expectations
BREAKING: France Prime Minister resigns. EURUSD and FRA40 drop
JP225 gains 4.5% 🚀
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
